MTR GAMING GROUP COMPLETES SALE OF SPEEDWAY CASINO

CHESTER, WV – June 4, 2008– MTR Gaming Group, Inc. (NasdaqGS:MNTG) today announced that, following receipt of all regulatory approvals, it has completed the sale of the gaming assets of the Speedway Casino to Lucky Lucy D, LLC. 

Lucky Lucy D paid $2 million in cash at the closing and the balance of up to $4.775 million is subject to an earn out based on the property’s gross revenues over a four year period that began in January of this year.

In January, MTR sold the Speedway’s real estate to Ganaste, LLC, an affiliate of Lucky Lucy D, for $11.4 million. With the sale of Speedway Casino’s gaming assets, the Company will reclassify those operations as “discontinued” for current and prior year periods.

About MTR Gaming Group
MTR Gaming Group, Inc., through subsidiaries, owns and operates the Mountaineer Casino Racetrack and Resort in Chester, WV; Presque Isle Downs & Casino in Erie, PA; Scioto Downs in Columbus, OH; the Ramada Inn and Speedway Casino in North Las Vegas, NV; and Binion's Gambling Hall & Hotel in Las Vegas, NV. The Company also owns a 90% interest in Jackson Trotting Association, LLC, which operates Jackson Harness Raceway in Jackson, MI, and a 50% interest in the North Metro Harness Initiative, LLC, which has a license to operate a harness racetrack 30 miles north of downtown Minneapolis. 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.
www.mtrgaming.com
Steven D. Overly, VP, Business and Legal Affairs
(304) 387-8558
soverly@mtrgaming.com

Investor Relations Counsel:
The Equity Group Inc.
www.theequitygroup.com
Melissa Dixon (212) 836-9613
Mdixon@equityny.com
Linda Latman (212) 836-9609
LLatman@equityny.com