Chester, WV, May 23, 2012 --(PR.com
)-- MTR Gaming Group, Inc. (NasdaqGS: MNTG) announced today that it has satisfied all conditions of the Ohio Lottery’s conditional license and has received its permanent license to install and operate video lottery terminals (“VLTs”) at its Scioto Downs racetrack in Columbus, Ohio.
On June 1 at 2:00 pm, the new Scioto Downs will become the premier choice in the Columbus area for gaming, entertainment and exciting nightlife.
“This is a significant achievement for MTR Gaming as Scioto Downs becomes the first of Ohio’s racetracks to be granted a permanent license to operate VLTs in the state,” said Jeffrey Dahl, President and Chief Executive Officer of MTR Gaming Group, Inc. “Next week’s opening of Scioto Downs will be the culmination of an extensive effort and we want to thank the design and construction crews as well as our MTR Gaming team members for completing the project on schedule and within budget. We will also be conducting a ribbon cutting ceremony on June 19 to thank public officials and to officially welcome our guests to this exciting new gaming and entertainment complex.”
Scioto Downs’ harness racing season officially opened on May 10. The newest addition to the property will host 2,125 VLTs and Scioto Downs is permitted to increase that number to as many as 2,500. Additionally, there will be a 300-seat buffet, a 100-seat casual dining restaurant, an 82-seat bar/lounge known as the Veil with high-tech sound and lights, and will offer a variety of entertainment options. The existing racetrack also benefited from a variety of significant improvements.
About MTR Gaming Group
MTR Gaming Group, Inc. is a hospitality and gaming company that through subsidiaries owns and operates Mountaineer Casino, Racetrack & Resort in Chester, West Virginia; Presque Isle Downs & Casino in Erie, Pennsylvania; and Scioto Downs in Columbus, Ohio. For more information, please visit www.mtrgaming.com
Except for historical information, this press release contains forward-looking statements. Such statements are subject to a number of risks and uncertainties that could cause the statements made to be incorrect. Those risks and uncertainties include factors described in the Company’s periodic reports filed with the Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements, except as may be required by law. The cautionary advice in this paragraph is permitted by the Private Securities Litigation Reform Act of 1995.
For Additional Information, Please Contact:
MTR Gaming Group, Inc.
Vice President and Chief Marketing Officer
John W. Bittner, Jr.
Executive Vice President and Chief Financial Officer