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

CHESTER, WV – November 2, 2004 – MTR Gaming Group, Inc. (Nasdaq National Market:MNTG) today announced that it will issue its financial results for the third quarter ended September 30, 2004 on Monday, November 8, 2004 at approximately 4:00 p.m. ET. 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 5:00 p.m. ET on Monday, November 8, 2004. Interested parties may participate in the call by dialing 706-679-0882 – 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, Inc., through subsidiaries, owns and operates the Mountaineer Casino Racetrack and Resort in Chester, West Virginia; Scioto Downs in Columbus, Ohio; the Ramada Inn and Speedway Casino in North Las Vegas, Nevada; Binion’s Horseshoe Hotel & Casino in Las Vegas, Nevada, which the Company operates jointly with an affiliate of Harrah’s; and holds a license (request for judicial review pending) to build Presque Isle Downs, a thoroughbred racetrack with pari-mutuel racing in Erie, Pennsylvania. The Company also owns a 50% interest in the North Metro Harness Initiative, LLC which is pursuing a license to construct and operate a harness racetrack and card room 30 miles north of downtown Minneapolis. The Mountaineer facility, the Company’s primary source of revenues, currently encompasses a thoroughbred racetrack with off-track betting and export simulcasting, 3,220 slot machines, 359 hotel rooms, golf course, spa & fitness center, theater and events center, convention center and fine dining and entertainment. MTR is included on the Russell 2000® and Russell® 3000 Indexes. For more information, please visit www.mtrgaming.com.

 

For Additional Information, Please Contact:
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

Toll-Free 1-800-80-40-HOT!

Offering West Virginia slots, the Mountaineer Casino is the premiere resort facility featuring penny and dime slots machines,
as well as table games, video poker, and daily poker tournaments! Enjoy dining, entertainment, lodging, golf and more!
All under one roof in Chester, WV – a little more than an hour drive from Pittsburgh, PA or Cleveland, OH.

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