Mtr Gaming

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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.

MTR Gaming Touts 2008 as Better Year

MTR Gaming Touts 2008 as Better Year

In an April 7 conference call where an executive announced an end to a workers' strike at its signature racino, MTR Gaming Group also claimed its 2007 financial performance was a product of a four-year business plan to diversify and strengthen the company.

Track Owner Boosts Stake in MTR Gaming

Track Owner Boosts Stake in MTR Gaming

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.

Purses Boost Inaugural Presque Isle Meet

The inaugural meet at Presque Isle Downs concluded Sept. 29, with the track located at the casino of the same name near Erie, Pennsylvania reporting average daily purse distribution of $432,074 for the 29-day stand. Overnight purses averaged $368,074.

Stall Rental Fees Complicate Mountaineer Negotiations

Thoroughbred racing at Mountaineer Race Track & Gaming Resort is on hold until at least Jan. 19 while track officials try to reach a new five-year contract with the Mountaineer Horsemen's Benevolent and Protective Association. Meanwhile, the track has offered to keep its stable are open with certain conditions, but the HBPA has balked.

MTR Gaming Plans Temporary Slots Parlor in Pennsylvania

  • News

MTR Gaming Group Inc., which has been granted a state license to build a horse racing track in Pennsylvania, has plans to build a temporary slot machine parlor where customers can gamble during the two years it will take to build the track.

Pennsylvania Slots Remain an Uncertainty

  • News

A decision by the Commonwealth Court to vacate a license granted last year to MTR Gaming and opposition by House members to slots in the state is leaving many questions to be answered.

Ohio Panel Conditionally Approves Racetrack Sale

  • News

The Ohio Racing Commission has conditionally approved the sale of Scioto Downs, a Columbus Standardbred track, to MTR Gaming, owner of Mountaineer Race Track & Gaming Resort in West Virginia.

Magna Appeals Licensing of Proposed Erie Track

  • News

Magna Entertainment's Pennsylvania subsidiary has appealed a decision by regulators to grant MTR Gaming a license to build Presque Isle Downs, a Thoroughbred racetrack proposed for the Erie area.

MTR Gaming Reports Bad Second Quarter

  • News

The owner of Mountaineer Race Track and Resort in West Virginia took a huge hit in the stock market Friday morning after releasing poor second quarter earnings.

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.

Hearing Set for Proposed Erie Racetrack

Presque Isle Downs, the Thoroughbred racetrack proposed for Erie, Pa., will be the subject of a Pennsylvania State Horse Racing Commission hearing Oct. 9. The hearing, at which the public will be afforded a chance to speak, will be held in Erie.

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.

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.

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