MTR Gaming Group on March 12 reported a $17.7 million loss for 2008, and took a shot at a new Ohio proposal to put slots in casinos.
A public changing of the guard at MTR Gaming Group Inc. was experienced Oct. 31 during a conference call with analysts and shareholders, as the company bid farewell to longtime chief Ted Arneault and welcomed his successor Robert Griffin.
Robert F. Griffin has been announced as the successor to Ted Arneault as president and chief executive officer of MTR Gaming Group, the company announced Sept. 23.
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.
Presque Isle Downs is the latest track to get caught up in the battle over revenue sharing of online and telephone wagering companies as signals to many advance deposit wagering companies were cut off May 11 due to lack of agreements with the Pennsylvania Horsemen's Benevolent and Protective Association.
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.
MTR Gaming in its annual report said it lost $11.4 million in 2007 and announced Ted Arneault will step down as chairman and chief executive officer at the end of the year.
MTR Gaming Group said Jan. 16 its Mountaineer Casino, Racetrack & Resort reported about $3 million in revenue from table games and poker since the full ramp-up of table-game operations in late December.
Presque Isle Downs, a Thoroughbred racetrack under construction near Erie, Pa., was awarded a conditional slot-machine license Oct. 25 and plans to have the reels spinning by mid-February 2007.
The decision on where an Erie racetrack will be located is being pushed back because of engineering and legal issues.
After a few years of contractual disputes, Mountaineer Race Track & Gaming Resort and the Mountaineer Horsemen's Benevolent and Protective Association have agreed on a three-year contract that calls for increases in live racing dates and a hike in the minimum claiming price at the West Virginia track.
The dispute between horsemen and management at Mountaineer Race Track & Gaming Resort escalated Jan. 5 when both parties accused the other of negotiating in bad faith.
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 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.
If horse racing is to gain ground, racing interests and state lawmakers must find a way to integrate pari-mutuel wagering with electronic gaming devices, said Dr. Richard Thalheimer, professor of equine administration at the University of Louisville.
The owner of the Charles Town Races & Slots doesn't like the idea of adding table games to West Virginia's four racetracks, and Gov. Bob Wise isn't ready to embrace the idea either.
MTR Gaming Group, the owner of Mountaineer Race Track and Gaming Resort, reported double digit increases in revenue, earnings, and net income for the first quarter ending March 31.
MTR Gaming Group, owner of Mountaineer Park, reported double digit increases in revenue, net income, and earnings for the fourth quarter and 2001. The West Virginia company (Nasdaq:MNTG) also reported decreases in earnings per share for the quarter and for the year.
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.
The public companies that own Mountaineer Park and Canterbury Park were recognized by Forbes magazine this week as two of the country's top 200 small companies.
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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