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MTR Gaming reports early termination right expired for Binion's sale

CHESTER, West Virginia -- (PRESS RELEASE) -- MTR Gaming Group, Inc. (NasdaqGS:MNTG) today announced that TLC Casino Enterprises, Inc. has delivered to the company a notice to proceed with the purchase of Binion's Gambling Hall & Hotel in Las Vegas, NV following the expiration of the early termination right in accordance with the June 2007 Stock Purchase Agreement, as amended. The purchase price is $32,000,000 in cash, subject to purchase price adjustments based on changes in net working capital and certain capital expenditures between execution and closing as set forth in the June 2007 agreement.

MTR expects the closing to take place by the end of 2007, subject to customary conditions, including the approval of the Nevada Gaming Commission and the City of Las Vegas.

TLC Casino Enterprises, Inc., which is controlled by Terry Caudill, also owns the Four Queens Hotel & Casino in Downtown Las Vegas.

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