| MTR Gaming Group is an established, profitable company with significant growth opportunities. MTR, through subsidiaries, owns and operates the Mountaineer Race Track & Gaming Resort in Chester, West Virginia, which currently encompasses approximately 3,220 slot machines, a year-round thoroughbred racetrack, an upscale hotel with amenities, golf course, fine dining and entertainment, a theater and events center, and a convention center. Additionally, through subsidiaries, the Company owns and operates Scioto Downs, a harness horse racing facility in Columbus, Ohio; the Ramada Inn and Speedway Casino in North Las Vegas; Binion’s Gambling Hall & Hotel in Las Vegas; and holds a license to build a new thoroughbred racetrack in Erie, Pennsylvania. Of note, slot machines were legalized in PA in July 2004. The Company also owns a 50% interest in the North Metro Harness Initiative, which has a license to construct and operate a harness racetrack 30 miles north of downtown Minneapolis (judicial review pending), and has entered into a definitive agreement to acquire a 90% interest in Jackson Trotting Association, which operates Jackson Harness Raceway in Jackson, Michigan. |
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