This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MTR Gaming Group Receives Ohio Gaming License

MTR Gaming Group, Inc. ( NasdaqGSMNTG) 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.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs