Racetrack and casino owner MTR Gaming reports its planned merger with another casino owner is on schedule for the second half of 2014. After the merger, the company will be renamed Eldorado Resorts.
Ohio's two operating racetrack casinos reported revenue increases in May when compared with the previous month, according to Ohio Lottery Commission documents.
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.
The Ohio Horsemen's Benevolent and Protective Association has informed Thistledown it won't grant the track approval to export its signal when live racing begins April 19 because it has no deal with horsemen on VLT revenue.
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.
The Ohio State Racing Commission put racetrack casino developers on notice Jan. 10 when, at a hearing, members expressed strong displeasure with the racing aspects of the proposed Miami Valley Gaming and Racing facility.
The only racetrack gaming facility in Ohio generated $11 million in revenue in its first month of operation, the Ohio Lottery Commission reported.
The Ohio Roundtable has appealed a Common Pleas Court ruling that said it didn't have legal standing to sue the state and others over the 2011 law that legalized racetrack video lottery terminals.
Just as the state's first racino prepares to open June 1, an Ohio judge has ruled against a group that filed suit challenging the legality of the casinos that fall under auspices of the Ohio Lottery Commission.
It appears Scioto Downs, a harness track in Columbus, will be the first racetrack in Ohio to open its video lottery terminal casino.
Penn National Gaming Inc., which owns two racetracks in Ohio, said it will run full live racing schedules at both tracks for the rest of this year and possibly next year depending on resolution of a legal challenge.
Oral arguments on a lawsuit filed to stop the installation of video lottery terminals at Ohio racetracks has been postponed to give interested parties a chance to intervene.
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, which recently received approval to refinance its debt, reported net income of $2.3 million for the second quarter of 2011. For the same three months in 2010, the company posted a net loss of $500,000.
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.
MTR Gaming Group indicated Aug. 9 it could spend up to $100 million to construct a video lottery terminal casino at Scioto Downs south of Columbus, Ohio.
A gaming and racing company with interests in Ohio said it believes a 2009 governor's directive for racetracks to install video lottery terminals can move ahead.
Beulah Park in central Ohio is poised to be, or has been, sold to Penn National Gaming Inc., according to Ohio racing industry representatives.
An MTR Gaming Group official said Nov. 4 passage of a casino referendum in Ohio will create new competition but also offer opportunity for racetracks in the Buckeye State.
MTR Gaming Group, which cut jobs and corporate expenses in the past year, released improved financial results for the second quarter of 2009 and said it's poised for growth in Ohio, where racetrack video lottery terminals have been authorized.
MTR Gaming Group swung to a profit of $742,000 in the first quarter of the year, with officials vowing May 7 to continue to improve on current operations rather than seek other properties to add to the company's portfolio.
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.
The parent company of Mountaineer Casino, Racetrack & Resort in West Virginia announced Dec. 4 it has ceased operations at Jackson Harness Raceway, a Michigan facility it purchased in 2005.
- By Ryan Conley
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.
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.
Rollercoaster weather conditions continue to plague Beulah Park, which canceled live racing March 5. It was the fourth consecutive full or partial card that was canceled, and dates lost during the meet are in the double digits.
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.
- By Tom LaMarra
Two Ohio racetracks that share the Columbus market have reached a new agreement on full-card simulcasts designed to aid patrons and perhaps their bottom lines.
MTR Gaming Group has launched an online account wagering service called RacelineBet.com, which is affiliated with AmericaATB.
Three groups seeking to legalize video lottery terminals at Ohio racetracks have decided to join forces rather than pursue their own ballot questions, which have generated conflict.
The Ohio Racing Commission Monday formalized the sale of Scioto Downs harness track to MTR Gaming Inc.
MTR Gaming announced it has completed its aquisition of Scioto Downs, a Standardbred track in Columbus, Ohio.
The sale of Scioto Downs Harness Racing Track to MTR Gaming has been approved by Scioto shareholders.
Officials with Scioto Downs in Columbus, Ohio, said May 22 all systems are go on its purchase by MTR Gaming Group, owner of Mountaineer Race Track & Gaming Resort in West Virginia.
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.
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.
The owner of Beulah Park in Grove City, Ohio, said he is surprised at the bid made for the purchase of neighboring Scioto Downs.
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.
Two Ohio racetracks that have gone head-to-head in the full-card simulcasting arena have agreed on a way to split the Columbus market in 2002.
- By Tom LaMarra
The Ohio Senate has begun research to see whether the question of racetrack video lottery terminals can be put on the ballot in the seven counties that have tracks. The state needs money to fund its education program and, as the newspaper reported Thursday, also needs revenue to offset a decline in tax receipts. Income from taxes is expected to be $850 million short of projections through early 2003.
Beulah Park and Scioto Downs, both located in the Columbus market, will be open year-round for simulcasting, though Ohio law will limit the schedule on certain days.
Having failed to renew an agreement that has kept them from competing against each other for simulcasting dollars, two Ohio racetracks located only five miles apart seem poised to go head-to-head in 2001 in a battle that could prove bloody.
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