Herbst posts $2.28 million loss from operations in August

By Alice Popovici

New York, Sept. 29 - Herbst Gaming, Inc. reported a $2.28 million loss from operations in August on zero net revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Nevada.

The figure worsened from a $1.26 million loss from operations in July, also on zero revenues.

The net loss for August was also $2.28 million, compared to $1.26 million in July.

Herbst had $4.85 million in cash and cash equivalents at Aug. 31, down from $9.92 million at the end of July.

The Las Vegas-based casino business owns and operates 12 casinos in Nevada, two in Missouri and one in Iowa. The company filed for bankruptcy on March 22 in the U.S. Bankruptcy Court for the District of Nevada. Its Chapter 11 case number is 09-50746.

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