Mountaineer Park

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MTR Gaming Aims to Reduce Debt

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.

Special Eclipse Award: Dale Baird

In 1996, Dale Baird became the first trainer in history to win 7,000 races. In 1999, he became the first to reach 8,000. And in 2004, yes, he made it to 9,000. That alone makes Baird special, and a deserving winner of a Special Eclipse Award.

West Virginia Derby Nominations Close

The Aug. 9 West Virginia Derby (gr. III) at Mountaineer Park has attracted a list of 69 nominations, including 13 graded stakes winners from the United States and Canada. Nominations for the 1 1/8-mile race closed July 26.

Churchill Stock Continues to Rally, MTR Gaming Slips

The approval of electronic pull-tabs in Indiana and the introduction of video lottery legislation in Kentucky pushed Churchill Downs stock up $1.80 to $41.80 per share Tuesday. On the flip side, MTR Gaming was downgraded by a major investment bank and its stock dropped 8.8%

Higher Expenses, Slow Slot Conversion Hurt MTR Gaming Stock

  • News

Shares of MTR Gaming Group (Nasdaq:MNTG), owner of Mountaineer Park in West Virginia, fell as high as 27% on Tuesday, a day after the racetrack, casino and hotel operator reported lingering problems in converting its slot machines to higher wagers. The company also surprised analysts by annoumcing higher than expected costs associated with a new hotel.

MTR Gaming Has Record Third Quarter

  • News

The parent company of Mountaineer Park reported record earnings, revenue, and net income for the third quarter ending Sept. 30. It was the best quarter in the company's history.

Mountaineer Slot Revenue Off 20 Percent

MTR Gaming Group (Nasdaq:MNTG), the owner/operator of Mountaineer Racetrack & Gaming Resort in West Virginia, reported a 20 percent drop in revenue in the two weeks following the Sept 11. terrorist attacks on New York and Washington, D.C.

Churchill to Repurchase Stock, Racing Stocks Down Overall

Churchill Downs' board of directors authorized the repurchase of up to 55,000 shares. The buy-back was authorized to help stablize the company's stock price and contribute to stablizing the market overall. Despite financial experts pleas to investors that they should not react to the terrorist attacks in New York and Washington D.C., the major stock markets sustained significant losses.

Kentucky Legislators: Come to Us With Plan

Kentucky legislators, seemingly receptive to the plight of the state's horse racing and breeding industry, indicated a willingness Friday to consider any proposal for assistance as long as the industry is on the same page. At a committee hearing in Frankfort, Ky., the issue of alternative gaming came up at least indirectly, and no one flinched.

Mountaineer Adding 595 Slot Machines

MTR Gaming Group (Nasdaq:MNTG) has received permission to increase the slot machines at Mountaineer Race Track by 31%. The new machines will raise the track's total number of video and slot machines to 2,500.

Officials: Kentucky Losing Too Much Ground

During a Tuesday morning hearing one legislator called "an eye-opener," representatives from Kentucky's horse racing and breeding industry outlined its current status and the economic challenges it faces. And it wasn't a pretty picture.

At Thistledown, More Horses Mean Bump in Handle

Thistledown's plan to revamp its racing program to compete for horses with nearby Mountaineer Park in West Virginia has paid off, at least very early in its 2001 meet. Track general manager Bill Murphy said the increase in field size had much to do with the spike in handle.

Racetrack VLT Proposal in Ohio Appears Dead

A proposal to use racetrack video lottery terminals to fund Ohio's educational system is dead, newspapers throughout the state reported Tuesday. A top legislator in the state had suggested that up to 1,500 machines be place in each of Ohio's seven racetracks to raise $900 million over the next two years.

Ohio Lawmakers Look to Put VLTs at Tracks to Help Schools

Facing a state Supreme Court deadline of June 15 to deal with public school funding problems, Republican members of the Ohio House of Representatives apparently are behind a plan to install video lottery machines at racetracks to raise between $230 million to $930 million in revenue over the next two years.

Storm Disrupts East Coast Racing

A late-winter storm that was expected to dump a large amount of snow along the East Coast led to cancellation of Monday racing at tracks in Pennsylvania and Massachusetts. Philadelphia Park announced that racing was cancelled for Monday and Tuesday, and racing was also cancelled at Suffolk Downs in Boston, where forecasters were predicting snowfall ranging from 18-24 inches.

Upset of the Decade? How About West Virginia?

Horse racing is a game of upsets, but who would have thought 10 years ago that the Thoroughbred sport in West Virginia would not only bounce back from the dead, but actually prove to be a desirable commodity? With the condition book that begins Jan. 20, purses at Charles Town Races will average $115,000 a day. When the Eastern Panhandle track closed several years ago, purses barely topped $20,000 per day. Now, an open allowance race goes for more money.

Reasons For Mountaineer Cancellation in Dispute

Mountaineer Park has cancelled live racing on Monday, Jan. 1, and Tuesday, Jan. 2, with racing scheduled to resume at the Chester, W. Va., track on Jan. 13. Rose Mary Williams, the track's director of racing, said Sunday the decision to cancel was based on forecasts for a winter storm which passed through the Northeast on Saturday. However, a report on the Equibase web site on Friday said that racing was cancelled due to a "dispute" between the local Horsmen's Benevolent and Protective Association and management.

Five Tracks Cancel Friday Racing

Weather conditions forced five tracks -- Turfway Park, Hawthorne Race Course, Mountaineer Park, Charles Town, and Penn National Race Course -- to cancel racing again on Friday. Friday's cancellation marks the seventh time in just over a week Turfway has canceled racing due to weather and Hawthorne's fifth such cancellation. Charles Town, Mountaineer and Penn National each have lost all or part of three cards recently.

Hal's Hope Favored in West Virginia Derby

he top two morning-line choices and 122-pound co-highweights for the $300,000 West Virginia Derby drew the two inside post positions for Mountaineer Park's Saturday feature. Florida Derby (gr. I) winner Hal's Hope, the 5-2 morning-line favorite, will break from post position two under regular rider Roger Velez, while California Derby winner Bet On Red (7-2) drew post position one. A full field of 12 3-year-olds were entered in the 1 1/8-mile race.

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