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State Commission OKs $148M Sands Regent Sale

CARSON CITY, NV-Locally headquartered Herbst Gaming gains final approval for its pending acquisition of Reno-based Sands Regent, which owns four casino properties, all in Nevada.

By Brian K. Miller | Updated on December 22, 2006

CARSON CITY, NV-The Nevada Gaming Commission on Thursday signed off on the acquisition of Reno, NV-based Sands Regent by Las Vegas-based Herbst Gaming. The $148-million merger agreement was announced in May. The Nevada Gaming Control Board recommended approval of the transaction earlier this month.Sands Regent is a publicly traded company that owns and operates a total of four gaming properties, all in Nevada. Its premier asset is the 833-room Sands Regency Casino and Hotel in Downtown Reno. Other assets include the Gold Ranch Casino and RV Resort in Verdi; the Rail City Casino in Sparks; and the Depot Casino and the Red Hawk Sports Bar in Dayton.

Herbst Gaming owns eight casinos, each of which carries the company’s “Terrible’s” brand. Five of the casinos are in Nevada and the others are in Missouri and Iowa. When the Sands Regent acquisition and another from MGM Mirage are completed, Herbst’s casino count will nearly double sometime during the first quarter of 2007.

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