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West Virginia Track Slot Revenue Off 20 Percent27 September 2001WEST VIRGINIA – Sept. 27, 2001 –As reported by Bloodhorse.com: "MTR Gaming Group (Nasdaq:MNTG), the owner/operator of Mountaineer Racetrack & Gaming Resort in West Virginia, reported a 20 percent drop in revenue in the two weeks following the Sept 11. terrorist attacks on New York and Washington, D.C. "The Chester, West Virginia--based firm said revenues at Mountaineer for the weeks ended Sept. 15 and Sept. 22 were $3.4 million and $3.6 million, respectively, down about 20 percent from a year ago. The declines and the softening United States economy, however, are not enough to derail ongoing plans for growth and expansion, according to Edson R. (Ted) Arneault, president and chief executive officer of MTR Gaming. "…Arneault said. "Accordingly, our strategy for growth and expansion remains unaltered: our new hotel, which will house 262 well-appointed rooms and suites, should open in the second quarter of 2002." "Arneault also said the company will continue pursuing regulatory approval to build Presque Isle Downs in Erie, Pennsylvania; and continue seeking other racing and pari-mutuel businesses in neighboring states. "Mountaineer operates 2,347 slot machines, of which 747 accept its new maximum bet. MTR Gaming shares were trading down 0.7 percent, or 6 cents at $9.15 on the Nasdaq stock market…" |