
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…"
| The Sands Regent is a publicly traded company that owns and operates the Sands Regency Casino and Hotel in downtown Reno, Nevada, Gold Ranch Casino and RV Resort in Verdi, Nevada, Rail City Casino in Sparks, Nevada and the Depot Casino and the Red Hawk Sports Bar in Dayton, Nevada. |
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