Herbst Gaming Misses Debt Payment

LAS VEGAS (AP) - Herbst Gaming says it is discussing a restructuring agreement with its lenders after missing a $5.1 million interest payment earlier in the week.

In a Security and Exchange Commission filing, the Las Vegas-based gambling operator says it extended its forbearance agreement with its banks until Feb. 2 in an attempt to restructure nearly $850 million in debt.

Herbst Gaming says it lost more than $101 million in the first nine months of 2008, compared with a net loss of $34.1 million for the same period a year earlier.

The company operated the Primm and Terrible's casino chains, along thousands of slot machines in Nevada restaurants, bars, gas stations and locations outside of casinos.

Information from: Las Vegas Review-Journal, http://www.lvrj.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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