MTR GAMING GROUP SCHEDULES 2008 THIRD QUARTER NEWS RELEASE AND CONFERENCE CALL FOR FRIDAY,
OCTOBER 31ST

CHESTER, WV – October 21, 2008 – MTR Gaming Group, Inc. (NasdaqGS:MNTG) today announced that it will issue its financial results for the third quarter ended September 30, 2008 on Friday, October 31, 2008 before the stock market opens.

Management will conduct a conference call focusing on the financial results and recent corporate developments at 10:00 a.m. EDT on Friday, October 31, 2008.  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 (conference ID # 66117129). 

The conference call will be webcast live via the Investor Relations section of the Company’s website at www.mtrgaming.com.  To listen to the live webcast 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 Investor Relations section of the Company’s website.

About MTR Gaming Group
MTR Gaming Group, Inc., through subsidiaries, owns and operates Mountaineer Casino, Racetrack & Resort in Chester, WV; Presque Isle Downs & Casino in Erie, PA; and Scioto Downs in Columbus, OH. 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 operates Running Aces Harness Park in Minneapolis, MN. For more information, please visit www.mtrgaming.com.

Except for historical information, this press release contains forward-looking statements concerning the Company’s plans to enter a consulting arrangement with its current president and CEO as part of a transition. Such statements are subject to a number of risks and uncertainties that could cause the statements made to be incorrect and/or for actual results to differ materially. Those risks and uncertainties include, but are not limited to, the inability of the parties to agree to the terms of such an agreement. The Company does not intend to update publicly any forward-looking statements, except as may be required by law. The cautionary advice in this paragraph is permitted by the Private Securities Litigation Reform Act of 1995.

David Hughes, Executive VP and CFO
(304) 387-8114
Dhughes@mtrgaming.com