Sands Regent Shareholders Sue

RENO, Nevada – As reported by the Reno Gazette-Journal: "Shareholders unhappy with The Sands Regent's deal to sell to Herbst Gaming of Las Vegas for $148 million are suing and asking for
The Sands Regency is the flagship property of the Sands Regent company.  a better price, according to court documents.

"The deal announced last month would give shareholders $15 per share, but the complaint filed in Washoe District Court calls the price 'grossly inadequate and unfair.'

"'The realizable value from growth and a recovery of the company's historic performance, as well as the Reno tourism projections, is far in excess of $15 per share,' the class-action complaint states…"