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MTR Gaming Group, Inc. announces approval from the West Virginia State Lottery Commission for proposed MTR-Eldorado Mergers30 May 2014CHESTER, West Virginia -- (PRESS RELEASE) -- MTR Gaming Group, Inc. (MNTG) (“MTR”) announced today that the proposed combination of MTR and Eldorado HoldCo LLC (“Eldorado”) has been approved by the West Virginia State Lottery Commission (“WVSLC”), subject to final review of any material and substantive changes in the proposed combination that may occur after the date of its approval. “We are pleased to receive approval from the West Virginia State Lottery Commission and continue to work cooperatively with the remaining state gaming and horse racing regulatory agencies to obtain the necessary approvals to complete the transaction," said Joseph L. Billhimer, Jr., President and COO of MTR Gaming Group, Inc. As previously announced, MTR, Eldorado and certain of their affiliates entered into an agreement and plan of merger (the “Merger Agreement”), pursuant to which MTR and Eldorado will become wholly-owned subsidiaries of Eclair Holdings Company (“NewCo”), which will be renamed “Eldorado Resorts, Inc.” The final approval from the WVSLC satisfies one of the conditions to the proposed transaction. The proposed combination remains subject to certain conditions and approvals, including final regulatory approvals from gaming regulators in Louisiana, Nevada, Ohio and Pennsylvania, approval by stockholders of MTR, registration and listing of NewCo shares and customary closing conditions. About MTR Gaming Group, Inc. 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. |