MTR Gaming Group Receives Ohio Gaming License
January 25 2012 - 1:52PM
Business Wire
MTR Gaming Group, Inc. (NasdaqGS: MNTG) today announced
that it has received its license to install and operate video
lottery terminals (“VLTs”) at its Scioto Downs racetrack and has
submitted its initial $10 million license fee.
With the license secured, the Company will continue its
construction of the new facility at Scioto Downs, which will have a
beneficial impact on the Columbus, Ohio area in terms of
entertainment, significant job opportunities and economic growth.
The Company anticipates opening the new facility in the second
quarter of 2012.
“We are very excited to be granted our Ohio license and have
already started construction on a first-class facility that will
drive significant long-term stockholder value for the Company and
over 800 new jobs for Columbus,” said Jeffrey J. Dahl, President
and Chief Executive Officer of MTR Gaming Group, Inc. “We would
like to thank the Ohio Lottery Commission for their professionalism
and diligence, and look forward to working hand-in-hand with the
Lottery and Racing Commissions and the people of Columbus as we
prepare for the grand opening of the new facility. It will be
something of which Columbus can be very proud.”
Construction of the facility started in December 2011 and
enclosure of the facility should be completed before the end of
January. Scioto Downs will open with 2,125 VLTs and is permitted to
increase that number to as many as 2,500. Additionally, there will
be a 300-seat buffet, a 100-seat casual dining restaurant, an
82-seat bar/lounge with high-tech sound and lights, and will offer
a variety of entertainment options. The racetrack will also benefit
from a variety of improvements.
“This is a very exciting time for the MTR team at the new Scioto
Downs Racetrack & Casino,” said Joseph Billhimer, Executive
Vice President and Chief Operating Officer for the Company. “We
look forward to enhancing the racing experience and to providing a
unique gaming and entertainment option for the greater Columbus
area.”
The Company recently installed a webcam at the Scioto Downs site
– to follow the construction of the facility, please visit
http://www.sciotodowns.com/ and click on the construction webcam
link.
About MTR Gaming Group
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. For more information, please visit
www.mtrgaming.com.
Forward-Looking Statements
Except for historical information, this press release contains
forward-looking statements. Such statements are subject to a number
of risks and uncertainties that could cause the statements made to
be incorrect. Those risks and uncertainties include factors
described in the Company’s periodic reports filed with the
Securities and Exchange Commission. The Company does not intend to
update publicly any forward-looking statements, except as may be
required by law. The cautionary advice in this paragraph is
permitted by the Private Securities Litigation Reform Act of
1995.
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