Sands Could Sell to Vegas-based Firm for $148 million
LAS VEGAS, Nevada As reported by the Reno Gazette Journal: "A Las Vegas 'bad guy' is taking over The Sands Regent in Reno, but casino officials say it's a good thing.
"Las Vegas-based Herbst Gaming Inc. announced Wednesday a $148 million deal to buy Sands, pending approval from shareholders who will get $15 per share.
"Herbst is known for its trademark 'bad guy' cowboy logo, Terrible's casinos and statewide route that services slots in small businesses. It is not publicly traded like Sands, but does have publicly traded debt.
"...The deal is being called a merger, where a subsidiary of Herbst will merge with the Sands, making Sands a wholly owned subsidiary of Herbst..."
2006-05-20
