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MTR Gaming granted license

CHESTER, West Virginia – (PRESS RELEASE) -- MTR Gaming Group, Inc. (NasdaqGS:MNTG) today announced that its wholly owned subsidiary, Presque Isle Downs, Inc., was granted a Conditional Category 1 Slot Machine License by the Pennsylvania Gaming Control Board. The Company expects to open the facility with 2,000 slots in February and commence live racing operations in September of 2007.

Edson R. (Ted) Arneault, President and Chief Executive Officer of MTR Gaming, stated, "We are appreciative of the efforts of the Pennsylvania Gaming Control Board and its staff in their review and consideration of our application. We are certainly pleased to have secured the Conditional Category 1 license, and are enthusiastic about continuing to move forward with our plans for Presque Isle Downs."

MTR also reported that it has agreed to buy out for $4.2 million an agreement entered in 2001 that allocated to a development consultant 3% of EBITDA from Presque Isle Downs.

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