Mercanti Completes First Financial Advisory Assignment in 2007 with the Sale of The Sands Regent to Herbst Gaming.MINNEAPOLIS & LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Mercanti Securities, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a NASD/SIPC registered broker-dealer and subsidiary of The Mercanti Group, a boutique investment bank, today announced the closing of the previously reported sale of The Sands Regent Sands Regent NASDAQ: SNDS is a casino holding company based in Reno, Nevada. History In May of 2006 Sands Regent announced plans be acquired by Terrible Herbst. The Depot Casino and the Red Hawk Sports Bar were acquired on September 1, 2005. , a publicly-traded gaming company based in Reno, Nevada. The Sands Regent was sold to privately-owned Herbst Gaming Herbst Gaming was founded in 1987 and is still run by Ed Herbst and his brothers, Troy Herbst and Tim Herbst. They are the sons of Jerry Herbst and grandsons of Ed Herbst. In addition to its casinos, the company operates the slot machines in the Terrible Herbst gas stations. , Inc., of Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada, and HGI-Casinos, Inc., a wholly-owned subsidiary of Herbst. Mercanti acted as financial advisor to the board of directors of The Sands Regent in this transaction. Under the terms of the definitive merger agreement, which was announced on May 17, 2006, the outstanding shares of The Sands Regent were acquired by Herbst at a price of $15 per share in cash, plus the assumption of approximately $35 million in debt, which represents a transaction value of approximately $153 million. "We are pleased that, working with the The Sands Regent and its board of directors, we have helped create value for The Sands Regent's shareholders," said Randy Bort, Managing Director, based in Los Angeles, who lead the Mercanti advisory team. About Mercanti Securities Mercanti Securities, LLC, member NASD/SIPC and a subsidiary of The Mercanti Group, enables Mercanti to compete with larger investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. and provide a broad range of customized financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and transaction structures. The Mercanti Group is a results-oriented boutique financial advisory firm that embraces a fierce commitment to client service and provides creative Merger & Acquisition, Capital Raising and Strategic Advisory solutions to small and middle market companies, private equity firms and individual business owners in the consumer, health care, technology, software, business services and manufacturing industries. The Mercanti Group offers companies the expertise and capabilities of a large investment bank with the focus, attention and energy of a small entrepreneurial firm. The Mercanti Group has offices in Minneapolis, Los Angeles and Seattle. Mercanti also is strategically affiliated with Marquette Financial Companies, a diversified financial services company which is a part of the Pohlad family holdings. If you would like more information on The Mercanti Group, please visit the Web at www.mercantigroup.com, or contact a Mercanti professional at 612.333.0130 (Minneapolis); 310.444.0130 (Los Angeles); or 425.943.7280 (Seattle). |
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