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Herbst Gaming Files for Chapter 11 Protection

RENO, Nev. (CN) - Herbst Gaming filed for Chapter 11 bankruptcy protection on Sunday under a previously negotiated agreement with creditors. The casino and slot operator listed $1.24 billion in debt and about $1 billion in assets for the company and its affiliates. Herbst said it plans to keep operating its 15 casinos during the reorganization.

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