Officials with Herbst Gaming Inc. says the company will give up control of its casino businesses while it seeks to restructure its debt in bankruptcy court.
Herbst operates the Terrible's casino chain, including the Terrible's Dayton Casino in Dayton.
The Las Vegas-based company says it has reached agreement with its lenders and will file Chapter 11 restructuring plans in U.S. Bankruptcy Court later this month.
A company official says under the plan, Herbst will give up ownership of its 15 casinos in Nevada, Iowa and Missouri. But it will keep 90 percent control of its slot machine route operations in stores, bars and restaurants across Nevada in a holding company.
CEO Troy Herbst says the move should not affect day-to-day operations or employees.
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