MTR Gaming Pleased with Table Games

MTR Gaming Pleased with Table Games
Photo: Mountaineer Park

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.

The results are for the period from Dec. 20, 2007, when full table game operations launched, through Jan. 13.

Revenue from Mountaineer table games for Jan. 1-13 totaled $1.5 million, with a win-per-table per day of $2,572. Poker revenue for the period totaled $297,000, with a win-per-table per day of $617. The company anticipates gross margins of between 17% and 20% for table games on a full-year basis.

“The attendance at Mountaineer since the opening of table games on Dec. 20 has been exceptional and exceeded our best expectations," Ted Arneault, chief executive officer of MTR Gaming Group, said in a statement. "We are pleased with the trend in slots revenue since the full commencement of table games."

MTR Gaming Group also recently reported it has completed the sale of property owned by its Speakeasy Casino in North Las Vegas for about $11 million. The sale to Ganaste LLC does not include the gambling operations. Those operations will be sold to Lucky Lady D LLC in a separate transaction worth nearly $7 million.

The sale is pending regulatory approval. Speakeasy Gaming Inc. will continue to operate the gambling operation as part of a short-term lease. MTR Gaming Group said Ganaste has agreed to spend $3 million to upgrade the property.

MTR Gaming Group owns and operates racetrack, casino, and hotel properties. Aside from Mountaineer, its other facilities include Presque Isle Downs & Casino near Erie, Pa., and Scioto Downs in Columbus, Ohio.

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