MTR GAMING GROUP RESPONDS TO INQUIRIES CONCERNING CALCULATION OF THE COMPANY’S LEVERAGE RATIO; SCHEDULES 2008 THIRD QUARTER NEWS RELEASE AND CONFERENCE CALL

CHESTER, W.Va., September 12, 2008 — MTR Gaming Group, Inc. (Nasdaq:MNTG) today announced that it will issue its financial results for the third quarter ended September 30, 2008 on Friday, October 31, 2008.

Management will conduct a conference call focusing on the financial results as well as recent corporate developments, including the status of the efforts of the Board’s Succession Committee and the implementation of the Company’s cost-cutting efforts and sales of non-strategic assets. Webcast and call-in details will be supplied a few days before the conference call.

Responding to shareholder inquiries and apparent confusion concerning the calculation of the debt-to-EBITDA ratio required by the Company’s $125 million revolving line of credit (currently $105 million drawn), the Company provides the following explanation of that calculation: For purposes of computing total leverage under the credit facility, the computation allows for add backs to EBITDA for preopening expense, stock option expense and non cash losses, which includes the loss on debt modification incurred in the first quarter of 2008. For the period ended September 30, 2008, the Company will add back approximately $6 million to EBITDA for computational purposes. Additionally, when computing total funded debt, cash in excess of $25 million is subtracted from total funded debt.

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. 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.

For Additional Information, Please Contact:
MTR Gaming Group, Inc.
www.mtrgaming.com

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