Company amends purchase agreement

Thursday, Jan. 27, 2005 | 10:48 a.m.

Herbst Gaming Inc. has amended its purchase agreement to buy the Lakeside Casino & Resort in Osecola, Iowa, for $160.8 million, or lower than originally anticipated.

The change is the result of lower than expected operating results at the property, Herbst Gaming said. The company didn't disclose the previous purchase price.

The company also is buying the St. Jo Frontier Casino in St. Joseph, Mo. and the Mark Twain Casino in La Grange, Mo. Herbst announced in July it would buy all three casinos from W.M. Grace Entertainment Inc. for $287 million.

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