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MTR Gaming completes Binion sale

CHESTER, West Virginia -- (PRESS RELEASE) -- MTR Gaming Group, Inc. (NasdaqGS:MNTG - News) today announced that, following receipt of all regulatory approvals, it has completed the sale of the stock of Speakeasy Gaming of Fremont, Inc., which owns and operates Binion's Gambling Hall & Hotel in Las Vegas, NV, to TLC Casino Enterprises, Inc. for cash. Net proceeds to the Company, after adjustments based on net working capital and certain capital expenditures for maintenance and repairs pursuant to the terms of the parties' June 26, 2007 stock purchase agreement, as amended February 29, 2008, were approximately $28.2 million (exclusive of the fees and costs of the transaction).

Edson R. (Ted) Arneault, MTR's Chairman, President and CEO, stated, "The completion of the sale of Binion's, as well as the recent sale of the Speedway Casino's non-gaming assets, allows MTR to focus on growing and optimizing its core assets, as we are doing at Mountaineer with the recent addition of table games and poker. We wish all of the Binion's employees well and we are confident that they and the property will do well under the leadership of TLC's Terry Caudill and his management team."

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