MTR Gaming Group, owner of Mountaineer Race Track and Gaming Resort in West Virginia, is pursuing the issuance of $130 million in senior notes through a private placement, business wires reported Feb. 26. The money for be used for several projects, including development of a track in Pennsylvania.
MTR Gaming Group, Inc., which owns and operates Mountaineer Race Track and Gaming Resort in Chester, West Virginia, announced Friday it has been granted a motion to expedite the appeal of its license to conduct Thoroughbred racing and parimutuel wagering in Erie, Pa. The hearing is scheduled for May.
A judge has given Mountaineer Race Track & Gaming Resort and the Mountaineer Horsemen's Benevolent and Protective Association until Feb. 21 to defend their positions in a dispute over a contract and racing dates.
Live racing is scheduled to return Feb. 4 to Mountaineer Race Track & Gaming Resort if track and weather conditions permit, though track management and the Mountaineer Horsemen's Benevolent and Protective Association remain at odds over aspects of their contract.
West Virginia has joined Washington as states planning to consolidate government functions and make the racing commission part of a broader gambling commission.
The owner of Beulah Park in Grove City, Ohio, said he is surprised at the bid made for the purchase of neighboring Scioto Downs.
Though the results of the Nov. 5 elections have the potential to be positive for the racing industry in some states, a top casino executive warned against the "irrational exuberance" that could develop at a time when racetrack gaming must become destination gaming.
MTR Gaming Group, the owner of Mountaineer Race Track and Gaming Resort, hits some new financial records for the third quarter but still reported a decline in earnings per share.
Industry representatives in West Virginia met by teleconference Oct. 15 to devise emergency rules to govern use of adjunct bleeder medications and to ban the practice of blood-doping.
Management and horsemen at Charles Town Races are discussing plans to expand the six-furlong racing surface and perhaps hold races at neighboring Shenandoah Downs during the upgrade.
Charles Town Races, which came back from the dead with the introduction on video lottery terminals in the late 1990s, will offer more than $1 million in purses this weekend in conjunction with the West Virginia Breeders Classics.
Wiseman's Ferry wins the West Virginia Derby, the richest and first graded race at Mountaineer Race Track & Gaming Resort.
Horsemen support a plan by Mountaineer Race Track & Gaming Resort to implement account wagering, but they're at odds with management over purse payments and have asked the West Virginia Racing Commission to mediate.
Wiseman's Ferry and The Judge Sez Who, the second- and third-place finishers in the grade II Ohio Derby at Thistledown in July, are among a field of nine 3-year-olds entered for the $600,000 West Virginia Derby, a grade III event to be held Aug. 10 at Mountaineer Race Track & Gaming Resort.
Fink, Sacks, and Swifty Farm's Wiseman's Ferry, second by a neck to Magic Weisner in the grade II Ohio Derby at Thistledown July 20, is among the nominees for the $600,000 West Virginia Derby at Mountaineer Race Track & Gaming Resort on Aug. 10.
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.
A proposal to allow video lottery terminals at seven Ohio racetracks is still alive in the statehouse--but just barely.
In light of reportedly improved relations between Tampa Bay Downs horsemen and management, Horsemen's Benevolent and Protective Association affiliates at two West Virginia racetracks have decided to send their signals to the Oldsmar, Fla., racetrack.
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%
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.
Showboat Development has reportedly re-filed in Pennsylvania a lawsuit related to the operating rights of slot machines at Charles Town Races. A similar lawsuit filed in Nevada last year was dismissed Jan. 25 because of a lack of jurisdiction.
A Nevada court on Jan. 25 dismissed a lawsuit that attempted to label Charles Town Races as a casino and force racetrack owner Penn National Gaming to pay a management fee to a previous owner of the track. The suit, which was filed by Showboat Development, was dismissed on the grounds that case should be heard in West Virginia, where the track is located.
The Slipton Fell Handicap is worth $75,000? C'mon. You're joking. Not! That race, which recognizes one of the more cleverly-named horses that campaigned at Waterford Park in the 1960s, is only one of 28 stakes that will be worth a minimum of $75,000 next year at Mountaineer Race Track & Gaming Resort.
Sam Huff is better known for his career as a pro football player, but he's also a Thoroughbred owner with a real passion for the game. This year, he realized a dream when total purses for the West Virginia Breeders Classics series hit $1 million.
The Charles Town Horsemen's Benevolent and Protective Association claims the racing office at the West Virginia track isn't adhering to a "preference date system" in the track's condition book, and in turn is favoring horses stabled in other states at the expense of local horsemen. Management says it sees no real problem with the manner in which races are drawn.
A new subsidiary of MTR Gaming Group, owner of Mountaineer Racetrack & Gaming Resort, has applied for a license to construct a Thoroughbred racetrack in Erie, Pa. Live racing hasn't been held in Erie since the late 1980s.
Owner-trainer Dale Baird took the top two spots in both stakes on the Memorial Day program at the West Virginia track.
It might not be possible to gauge the extent of the fetal loss syndrome problem in Ohio since pleasure horse owners might not pay for the cost of testing on dead fetuses and foals presented to the diagnostic lab. However, anecdotal reports support evidence that veterinarians and breeders in Ohio are seeing an abnormal number of problems.
A bill to assist jockeys that passed both houses of the West Virginia legislature is set to become law today.
The Eight Classics races will be run Saturday, Oct. 13. The night before, three $50,000 stakes sponsored by the Charles Town Horsemen's Benevolent and Protective Association are scheduled. Stakes purses for the two days will be $1 million, a record at Charles Town.
West Virginia's House Judiciary Committee has approved a measure that would restrict and regulate video poker devices -- called "gray" machines" -- and use revenue from them to fund education and government.
Purses at Charles Town Races will increase another 5% for the condition book that begins March 15, which means daily average purses at the West Virginia track will be $125,000.
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.
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