Green’s Dictionary of Slang

bust-out adj.2

[SE bust, broken + SE out]

1. illegal, esp. of dice.

[UK]I. Fleming Diamonds Are Forever (1958) 72: It is possible that there are bust-out gaffs sneaking in farmhouses on back roads.
[US] in B. Jackson In the Life (1972) 187: A ‘bust-out’ mob [...] You’re working with tops or bust-out craps.
[US]H. Gould Fort Apache, The Bronx 8: Why hit a bust out saloon where there was no real bread.

2. of a place or machine, e.g. a car, run-down.

[US]E. Bunker No Beast So Fierce 37: A whore was liable to grab a sucker through his pants and drag him by his tool into a bust-out hotel.
[US]E. Bunker Little Boy Blue (1995) 214: We’re in this godddam bust-out hotel with two kids.
[US]J. Stahl Permanent Midnight 163: Big G’s bust-out ’76 Bonneville, a rusted baby blue barge.
[US]F.X. Toole Rope Burns 2: I did my best for a year or so in a bust-out gym in Ocean Park, California.

3. (US, also busted out) of a person, impoverished.

[US]‘Iceberg Slim’ Airtight Willie and Me 131: The sour whiskey gusts from the four busted-out hardfaces.
[US]S. Morgan Homeboy 3: That afternoon was the first time in her bustout life.
[US]F.X. Toole Rope Burns 165: What is now Chinatown is where the bust-out Irish working the railroads first lived.