MTR GAMING GROUP ANNOUNCES FAVORABLE
RESOLUTION OF FINAL CHALLENGE TO ITS PENNSYLVANIA RACING
LICENSE; COMPANY TO MOVE FORWARD WITH DEVELOPMENT OF RACINO
CHESTER, WV – January 4, 2005 – MTR Gaming Group,
Inc. (Nasdaq National Market:MNTG) today announced that
the Pennsylvania Supreme Court denied a Petition for Allowance
of Appeal filed by Pittsburgh Palisades, which aimed to
challenge the Racing Commission’s July 17, 2003 reinstatement
of MTR’s license to build Presque Isle Downs.
Edson R. (Ted) Arneault, President and CEO of MTR Gaming
Group, stated, “We are very pleased to put this final
legal challenge behind us, and look forward to moving ahead
with the development of Presque Isle Downs at our licensed
site in Summit Township.”
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.
|
