Gaming News

MTR elects new Chairman of the Board

CHESTER, West Virginia -- (PRESS RELEASE) -- On October 30, 2008, MTR Gaming Group Inc. (NasdaqGS: MNTG) elected Jeffrey P. Jacobs as Chairman of the Board of Directors and the Company elected three new members to its Board of Directors. Steven M. Billick and Raymond K. Lee will fill two new seats created as a result of the Board's amendment of its Bylaws, on October 30, 2008, to increase the number of directors from seven to nine. Stanley R. Gorom III will fill the Board seat vacated by Edson R. Arneault's resignation from the Board on October 31, 2008.

Mr. Billick is a Principal with Inglewood Associates, LLC, a consulting firm focused on delivering turnaround management, litigation support and other related services. Mr. Billick previously served as the Executive Vice President, Treasurer and Chief Financial officer of Agilysys, Inc., a publicly traded distributor of computer hardware and software products and prior to that, served as the Senior Vice President, Treasurer and Chief Financial Officer of Signature Brands USA, Inc., a publicly traded manufacturer of Mr. Coffee, Health-O-Meter and Pelouze branded consumer products. Mr. Billick was also an audit Partner with the accounting firm of Deloitte & Touche. Mr. Billick will serve on the Company's Audit and Compensation Committees and as a representative on the Company's Compliance Committee.

Mr. Lee is the President and Chief Executive Officer of Country Pure Foods, one of the largest independent juice beverage companies in the U.S. Country Pure is owned by several private equity firms and is headquartered in Akron, Ohio. Mr. Lee, a CPA, was also a Tax Partner with Deloitte & Touche and was in charge of their merger and acquisition practice for their Northeast Ohio Practice during his tenure. Mr. Lee will also serve on the Company's Audit, Succession and Nomination Committees.

Mr. Gorom is a Partner with the law firm of Hahn Loeser & Parks, LLP in Cleveland, Ohio, and is engaged primarily in general corporate and finance matters. His practice also involves substantial experience in the gaming industry.

Mr. Jacobs, Chairman of the Board of Directors of MTR Gaming Group commented on his appointment and the newly added Board members, "I am pleased to accept the position as Chairman of the Board of Directors and look forward to working with the Board of Directors and our new CEO, Robert F. Griffin, in maximizing shareholder value".

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