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twitterSlot route operator closes on expansion deal
Thursday, Feb. 27, 2003 | 11:07 a.m.
Herbst Gaming Inc. announced the closing of a previously announced agreement to acquire a slot route from Anchor Coin.
The price was approximately $61 million, Herbst said.
Anchor Coin was a slot route acquired as part of International Game Technology's purchase of slot machine manufacturer Anchor Gaming in 2001.
"We are pleased with the consummation of the slot route transaction and are confident that Herbst Gaming will continue to serve our former customers and employees well," said Rich Baldwin, director of corporate finance for Reno-based IGT.
The agreement, announced last year, makes Las Vegas-based Herbst the largest owner of slot machines in grocery stores, convenience stores, gas stations and other route operations in Nevada.
Slot maker Alliance Gaming Corp., through its United Coin Machine Co. subsidiary, claims to be the largest slot route operator in the country.
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