November 3, 2011
MTR Gaming posts $41.5M loss for third quarter
By The Associated Press
Advertiser

CHESTER, W.Va. -- MTR Gaming Group Inc. says it lost $41.5 million in the third quarter, largely due to debt refinancing.

President Jeffrey Dahl says the results reflect a $34.4 million pre-tax loss related to the refinancing of debt, along with tentative consumer-spending habits and increased competition.

MTR lost $1.49 per share, compared to earnings of $1.5 million, or 5 cents per share, in the same period last year.

The company also took a $5.8 million hit in gaming fees from Pennsylvania.

At Presque Isle Downs & Casino, revenue fell 5 percent to $54.7 million for the quarter. Revenue from table games rose from $5.1 million to $5.4 million.

Revenue at Mountaineer Casino, Racetrack & Resort fell 1 percent to $59.4 million. Table game revenue rose slightly, from $8.1 million to $8.2 million.

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MTR Gaming posts $41.5M loss for third quarter

CHESTER, W.Va. -- MTR Gaming Group Inc. says it lost $41.5 million in the third quarter, largely due to debt refinancing.

President Jeffrey Dahl says the results reflect a $34.4 million pre-tax loss related to the refinancing of debt, along with tentative consumer-spending habits and increased competition.

MTR lost $1.49 per share, compared to earnings of $1.5 million, or 5 cents per share, in the same period last year.

The company also took a $5.8 million hit in gaming fees from Pennsylvania.

At Presque Isle Downs & Casino, revenue fell 5 percent to $54.7 million for the quarter. Revenue from table games rose from $5.1 million to $5.4 million.

Revenue at Mountaineer Casino, Racetrack & Resort fell 1 percent to $59.4 million. Table game revenue rose slightly, from $8.1 million to $8.2 million.

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