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By LVBear | February 29, 2008
According to this article, Las Vegas-based Herbst Gaming, which significantly grew its statewide casino business through two high-profile acquisitions in 2007, said the alternatives could include a recapitalization, refinancing, restructuring or reorganization of the company’s debt, or a sale of some or all of its businesses.
Well, well, well. The greedy parasites who operate terrible casinos that truly live down to their names are struggling. I rarely wish bad things on people, but the Herbst family has prospered by ripping off the public with casinos that offer awful games, incompetent management, surly employees, and other indignities such as repeatedly lying about and welching on promotions at their little Las Vegas casino, the aptly-named Terrible’s. A prime example of the insatiable greed of these people is how they presently operate the three Primm casinos they recently acquired. At the time, it was thought by many that those casinos couldn’t get any worse than they were under previous ownership. But, surprise — the greedy Herbst brothers made them even worse. Knowing they have a captive clientèle of gambling addicts passing through Primm, the Herbsts converted even the few double deck blackjack games to the garbage 6 to 5 payoff. This is taking advantage of the suckers to a ridiculous degree.
Shame on the Herbsts. I am glad they are in financial trouble. May they go broke.
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