Search Results for: herbst

Terrible News Again for Herbst and the Casino Industry

The news is terrible again for Terrible Herbst. Standard and Poor’s Ratings Services has lowered its rating on Herbst Gaming’s 8.125 percent senior subordinated notes to ‘D’ from ‘C’, following Herbst’s failure to make an interest payment on June 1, 2008. The … Continue reading

More Terrible News for Terrible Herbst — Bonds Ratings Lowered and Still No Deal with Creditors

We wrote a post last month about the likelihood that Herbst Gaming will have to file for Chapter 11 bankruptcy protection from its creditors if it is unable to alter its payment structure for $1.14 billion in debt.  The company is privately … Continue reading

Terrible News for Terrible Herbst — Herbst Gaming May Be Subprime Losers

We’re racing fans, particularly of the Baja 1000, and we admire the Herbst family, owners of Terrible Herbst Motorsports and Herbst Gaming, for the success of their race cars and their other businesses, all of which have grown from a single … Continue reading