MTR Gaming Group, Inc. (NasdaqGS: MNTG) today announced that it has been added to the U.S. broad-market Russell 3000 ® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes after the equity markets closed on June 22.
Annual reconstitution of Russell’s U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
“We are very pleased to see that the extensive amount of work in expanding and improving MTR Gaming over the past couple of years has paid off in being added to this well-regarded benchmark index,” said Jeffrey J. Dahl, President and Chief Executive Officer of MTR Gaming Group, Inc. “Our inclusion in the Russell 3000 should enhance our visibility and aid us in bringing our recent success story to a broader range of the investment community.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. Russell calculates more than 80,000 benchmarks daily covering approximately 98 percent of the investable market globally, 83 countries and more than 10,000 securities. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.