The owner of Colonial Downs reported May 14 an increased first-quarter profit of $3.1 million, helped by the improved performance of its racing subsidiary.
The owner of Colonial Downs reported it lost $4.1 million during 2008, due in part to its investment in MTR Gaming Group, it was reported March 18.
MTR Gaming Inc. has defined as core assets its two Thoroughbred racinos and an Ohio harness track, and will examine sale possibilities of all other properties to reduce debt and raise shareholder value, the company said July 30.
Jacobs Entertainment Inc. and its affiliates have recently increased their overall stake in MTR Gaming Group, a move that follows a January announcement that the owner of Colonial Downs was shifting its focus towards facilities that feature multiple forms of gaming.
Colonial Downs in Virginia is on the market because of its inability to add other forms of gambling, track owner Jacobs Entertainment said in a Jan. 11 notice.
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