Watching and waiting for a move by Herbst Gaming

Howard Stutz

February 5, 2009 - 2:37 pm

We’re still waiting for word from Herbst Gaming on its efforts to restructure $846.8 million in debt.

At last check, the casino owner and Nevada slot machine route operator missed a $5.1 million interest payment in early December. Herbst Gaming extended its forbearance and standstill agreement with its banks, but that deal expired Monday.

Herbst has gone radio silent on the restructuring efforts. However, the company has continued to operate its 15 casinos in Nevada and the Midwest and its 7,200-slot machine route operation.

On Thursday, Herbst named a new general manger for the Terrible’s Mark Twain Casino in LaGrange, Mo. The casino’s former general manager took over the Terrible’s Lakeside Casino in Osceola, Iowa.

The Missouri Gaming Commission recently renewed the state gambling license of the LaGrange casino for two years.

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