Two Major Casino Acquisitions Completed

Columbia Entertainment Completes Aztar Acquisition for $2.1 Billion

FT. MITCHELL, Kentucky -- Wimar Tahoe, Inc., d/b/a Columbia Entertainment, today completed its acquisition of all of the outstanding
  common shares of Aztar Corp. (NYSE:AZR - News) for $54.3996 per share and all outstanding preferred shares of Aztar for $575.3546 per share, for a total of approximately $2.1 billion. The per share amounts include $0.00888 per common share per day and $0.09388 per preferred share per day that Columbia agreed to pay Aztar shareholders beginning on November 20, 2006 through today's closing date.

Under the terms of the agreement, WT-Columbia Development, Inc., an indirect wholly owned subsidiary of Columbia Entertainment, merged with and into Aztar, with Aztar surviving the merger and becoming an indirect subsidiary of Columbia Entertainment. The acquisition has been approved by gaming authorities in Nevada, New Jersey, and Indiana; and the financing transactions to facilitate the acquisitions have been approved by Louisiana and Mississippi.

Columbia President and CEO William J. Yung said that he expects a smooth transition. "The Tropicana properties have tremendous brand equity." he said. "Over the next several months and years, we fully expect to leverage that equity for our customers, communities and employees."

Bank of America, Credit Suisse and Libra Securities provided investment banking advisory services for the transaction and Credit Suisse acted as the administrative agent, lead arranger and lead book-running manager for the approximately $3.1 billion of senior secured credit facilities and senior subordinated notes used to finance the acquisition of Aztar and to retire existing indebtedness.

Herbst Gaming, Inc. Announces the Completion of the Acquisition of The Sands Regent

LAS VEGAS -- Herbst Gaming, Inc. (the "Company") today announced that the Company has completed the acquisition of The Sands Regent, paying approximately $119 million in cash for the outstanding securities of The Sands Regent. On May 16, 2006, the Company entered into an agreement to acquire The Sands Regent, pursuant to which The Sands Regent's shareholders received $15.00 per share in cash. The Sands Regent operates casinos and tourist-based facilities, including Rail City Casino in Sparks, Nevada; the Sands Regency Casino Hotel in downtown Reno, Nevada; the Gold Ranch Casino and RV Resort in Verdi Nevada and, Depot Casino and Red Hawk Sports Bar in Dayton, Nevada.