MTR GAMING GROUP TO ANNOUNCE FIRST QUARTER FINANCIAL
RESULTS AND GUIDANCE FOR FISCAL 2003; SCHEDULES CONFERENCE
CALL
CHESTER, WV – May 2, 2003 – MTR Gaming Group,
Inc. (Nasdaq National Market:MNTG) today announced that it
will issue its financial results for the first quarter ended
March 31, 2003 and financial guidance for fiscal 2003 on Tuesday,
May 6, 2003. The news release will be issued after the close
of the stock market. Edson R. (Ted) Arneault, President and
CEO, John W. Bittner, Jr., CFO, and David R. Hughes, COO of
the Company’s Mountaineer Park, Inc. subsidiary, will
conduct a conference call focusing on the financial results
and recent corporate developments at 10:00 a.m. ET on Wednesday,
May 7, 2003. Interested parties may participate in the call
by dialing 973-582-2866 – please call in 10 minutes before
the call is scheduled to begin, and ask for the MTR Gaming
call.
The conference call will be broadcast live over the Internet
via the Investor Relations section of the Company’s web
site at www.mtrgaming.com. To listen to the live call please
go to the website at least 15 minutes early to register, download
and install any necessary audio software. If you are unable
to listen live, the conference call will be archived on the
Company’s web site.
About MTR Gaming Group
MTR Gaming Group owns and operates the Mountaineer Casino Racetrack and Resort in Chester, West Virginia, which currently encompasses
a thoroughbred racetrack with off-track betting and export
simulcasting, 3,200 slot machines, 359 hotel rooms, golf course,
spa & fitness center, theater and events center, convention
center and fine dining and entertainment. The Company also
owns and operates the Ramada Inn and Speedway Casino in North
Las Vegas, and holds a license to build a new thoroughbred
racetrack with parimutuel wagering in Erie, Pennsylvania. MTR
is included on the Russell 2000® and Russell® 3000
Indexes. For more information, please visit www.mtrgaming.com.
About Scioto Downs
Scioto Downs owns and operates a harness horse racing facility
in Columbus, OH. Major racing programs conducted at Scioto’s
facilities include the Little Brown Jug Preview, the Scarlet
O’Hara, the Pink Bonnet, the Ohio Sires Stakes events
and Ohio Fair stakes events.
Except for historical information,
this press release contains forward-looking statements concerning,
among other things,
the acquisition of Scioto Downs, Inc. Such statements are based
on MTR’s current plans and expectations. Such statements
are subject to a number of risks and uncertainties that could
cause the statements made to be incorrect and/or for actual
results to differ materially. Those risks and uncertainties
are described in the Company’s periodic reports filed
with the Securities and Exchange Commission, and with respect
to the Scioto Downs acquisition are described in the Merger
Agreement, as amended, which is attached as exhibits to the
Company’s reports on Forms 8-K filed December 24, 2002,
March 5, 2003, and May 7, 2003. MTR’s plans to build
a racetrack in Erie, Pennsylvania remain subject to the possibility
of a legal challenge to the July 17, 2003 decision of the Pennsylvania
State Horse Racing Commission reinstating the license (which
was originally granted in late 2002) and the risks associated
with land acquisition,development, construction and integration
of new operations. The Company does not intend to update publicly
any forward-looking statements, except as may be required by
law.
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