The Collaborative International Dictionary of English v.0.48:

bust \bust\ (b[u^]st), v. i.
   1. To break or burst. [informal]
      [PJC]

   2. (Card Playing) In blackjack, to draw a card that causes
      one's total to exceed twenty-one.
      [PJC]

   3. To go bankrupt.
      [PJC]

   to go bust to go bankrupt.

   or bust or collapse from the effort; -- used in phrases
      expressing determination to do something; as, Oregon or
      bust, meaning "We will get to Oregon or die trying."
      [PJC]