Herbst Gaming Inc. officials say they have reached agreement with lenders to
restructure its debt in bankruptcy court. The company will file for Chapter 11
restructuring in U.S. Bankruptcy Court later this month.
Herbst owns Terrible's casinos in Osceola, Iowa and in St. Joseph and LaGrange,
Under the plan, Herbst will give up ownership of its 15 casinos in Nevada, Iowa
and Missouri, but it will keep 90% control of its slot machine route operations
in Nevada stores, bars and restaurants across Nevada.
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