Terrible's Gaming Likey to go Bankrupt

[zengrifter]

[FONT=arial, helvetica][FONT=verdana,arial]April 3, 2008[/FONT]

[FONT=Times New Roman, serif]Herbst battles big debt[/FONT]

[FONT=Times New Roman, serif]Staff and wire reports[/FONT]

Nevada casino owner and slot machine operator Herbst Gaming Inc. faces bankruptcy unless it can reorganize and repay more than $1 billion in debt, according to documents filed with the U.S. Securities and Exchange Commission.

In reports filed Monday and Tuesday, the Las Vegas-based owner of Terrible's casinos in Nevada, Iowa and Missouri said poor financial results during the second half of 2007 continued in 2008.

MORE- http://www.rgj.com/apps/pbcs.dll/article?AID=/20080403/NEWS10/804030334/1321/NEWS
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[zengrifter]

That is unless they do more of what casinos do - LAUNDER MONEY for hot offshore pools. zg

 

[bj bob]

Gas / Diesel prices

I wonder how much impact the price of fuel has had on their stations, seems like the truck stops / gas stations are a significant part of their revenue.

 

[shadroch]

The purchase of the casinos in Primm is killing them just now.

 

[davidpom]

It's a shame, because I always found their players club in Vegas to be one of the best for comps / freebies.

The buffet was always substandard - but to be fair, you can't expect much when a champagne brunch is $6.99+tax.

I read that they've suffered on the slot rounds they own at service stations and 7/11's etc due to a no-smoking ban on those properties.