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MTR GAMING GROUP SCHEDULES SECOND QUARTER FINANCIAL
RESULTS NEWS RELEASE AND CONFERENCE CALL

CHESTER, WV – July 28, 2003 – MTR Gaming Group, Inc. (Nasdaq National Market:MNTG) today announced that it will issue its financial results for the second quarter ended June 30, 2003 on Thursday, July 31, 2003 before the stock market opens. 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 4:00 p.m. ET on Thursday, July 31, 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.

 

MTR Gaming Group, Inc.
Edson R. Arneault,
Pres. & CEO
(304) 387-8300

Investor Relations Counsel:
The Equity Group Inc.
www.theequitygroup.com
Lauren Barbera (212) 836-9610
lbarbera@equityny.com
Loren G. Mortman (212) 836-9604