With strong assistance from its video lottery terminal operation at Scioto Downs in Ohio, MTR Gaming Group greatly reduced its net loss for the first quarter of 2013 compared with the same period in 2012.
MTR Gaming Group reported a 14.5% improvement in revenue in 2012 despite an increase in competition from other casinos, the company reported March 7 in its latest earnings report.
It appears Scioto Downs, a harness track in Columbus, will be the first racetrack in Ohio to open its video lottery terminal casino.
MTR Gaming Group reported solid growth in net revenue for the fourth quarter of 2011 but a net loss for the quarter and the year.
A central Ohio racetrack is the first of seven tracks in the state to receive a license to install and operate video lottery terminals.
The parent company of Mountaineer Casino, Racetrack & Resort in West Virginia and Presque Isle Downs & Casino in Pennsylvania is the first to apply for a video lottery terminal license in Ohio.
MTR Gaming Group registered a 4.33% decline in net revenue in 2010, but the company also reduced total operating expenses by 10.48% on the year, according to a financial report for 2010.
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