MTR GAMING GROUP SET TO CLOSE SALE OF BINION’S ON OR BEFORE MARCH 7TH

CHESTER, WV – March 3, 2008 – MTR Gaming Group, Inc. (NasdaqGS:MNTG) today announced that it and TLC Casino Enterprises have agreed to close the sale of Binion’s Gambling Hall & Hotel on or before March 7, 2008.

The previously agreed upon price of $32 million in cash was subject to certain adjustments, and, due to current market conditions, both parties have agreed to a $3 million working capital adjustment, which will remain in Binion’s upon closing.

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