Herbst Acquisition of The Sands Regent Closes
04 Janeiro 2007 - 5:39PM
PR Newswire (US)
RENO, Nev., Jan. 4 /PRNewswire-FirstCall/ -- The Sands Regent
(NASDAQ:SNDS) announced today its proposed acquisition by privately
held Herbst Gaming Inc. has closed. Herbst is paying approximately
$119 million in cash for the outstanding securities of The Sands
Regent. On May 16, 2006, Herbst entered into an agreement to
acquire The Sands Regent, pursuant to which The Sands Regent's
shareholders received $15.00 per share in cash. The Sands Regent
operates casinos and tourist-based facilities, including Rail City
Casino in Sparks, Nevada; the Sands Regency Casino Hotel in
downtown Reno, Nevada; the Gold Ranch Casino and RV Resort in
Verdi, Nevada; and Depot Casino and Red Hawk Sports Bar in Dayton,
Nevada. About Herbst Gaming Herbst Gaming is an established casino
and slot route operator in the State of Nevada. Additional
information is available in the "Investor Relations" section of the
Company's website at http://www.herbstgaming.com/. This press
release may be deemed to contain certain forward-looking statements
with respect to the business, financial condition, and results of
operations of the Company and its subsidiaries which involve risks
and uncertainties, including, but not limited to, financial market
risks, economic conditions, regulatory matters and litigation and
other risks described in the filings of the Company with the
Securities and Exchange Commission. These forward-looking
statements generally can be identified by phrases such as the
Company "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates," or other words or phrases of similar
import. Such forward-looking information involves important risks
and uncertainties that could significantly affect results in the
future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of
the Company. For more information, review the Company's filings
with the Securities and Exchange Commission. ISIN US8000911003
Contact: Ferenc B. Szony, President and Chief Executive Officer The
Sands Regent (775) 348-2210 or Sean Collins, Senior Partner CCG
Investor Relations (310) 477-9800 Mary Beth Higgins Herbst Gaming
(702) 740-4576 DATASOURCE: The Sands Regent CONTACT: Ferenc B.
Szony, President and Chief Executive Officer of The Sands Regent,
+1-775-348-2210; or Sean Collins, Senior Partner of CCG Investor
Relations, +1-310-477-9800, for The Sands Regent; or Mary Beth
Higgins of Herbst Gaming, +1-702-740-4576
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