Definition of bust out:
(v) :
(informal, intransitive) To escape (from); break out.
(v) :
(informal, transitive) To free from captivity.
(v) :
(US, informal, intransitive) To reveal, to show.
(v) :
(US, informal) To bring out; to take out.
(v) :
(US, informal, nonstandard) To burst out (laughing).
(v) :
(blackjack, intransitive) To lose by going bust.