MTR Gaming Group Inc

MTR Gaming (MNTG) has entered into a new credit agreement worth $20 million, half of which it drew Friday. The company said the agreement for the senior secured, delayed-draw term loan credit facility is with Aladdin Credit Advisors LP as administrative agent. The West Virginia-based gambling company said the purpose of the money is to pay for ongoing expenses and new developments like gaming operations at Presque Isle Downs in Erie, Pa. Companies that run casinos and horse racing tracks have been h  

March 18, 2010 – MTR Gaming Group, Inc. (NasdaqGS: MNTG) (the "Company") announced today that it has entered into a new credit agreement with Aladdin Credit Advisors, L.P., as administrative agent. The new credit agreement provides for a $20 million senior secured delayed-draw term loan credit facility, $10 million of which the Company has drawn today. The purpose of the credit facility is to finance (i) ongoing working capital and general corporate needs of the Company and its subsidiaries, and (ii) capi  

finance (i) ongoing working capital and general corporate needs of the Company and its subsidiaries, and (ii) capital expenditures, including the development of Presque Isle Downs for table gaming operations in Erie, Pennsylvania. The new credit facility matures on March 18, 2013 and replaces the Company's current credit facility, which is currently undrawn and would have matured on March 31, 2010. This press release contains forward-looking statements concerning, among other things, a new credit faci  

Analyst Justin T. Sebastiano at Morgan Joseph has released an update on MTR Gaming Group, Inc. (NASDAQ: MNTG ). The company reported its fourth-quarter results on Friday. MTR Gaming Group reported a loss of $0.20 per share in its fourth-quarter, higher than Morgan Joseph's estimate of a loss of $0.09 per share and consensus of a loss of $0.19 per share.  

Several stocks trading near $5 were poised to move on above-average volume during Monday's session. MTR Gaming Group ( MNTG ) shares were indicated sharply higher even after the racetrack and gaming company reported a fourth-quarter adjusted loss of 20 cents a share, which was a penny wider than the Thomson Reuters average estimate. Revenue fell 7% from a year ago to $93.8 million, which was also below consensus.

support for organic and opportunistic growth.   -Flagstar

 

MTR Gaming Group Inc. is reporting a net loss of $24.2 million for the fourth quarter of 2009, nearly six times more than the $4.5 million loss it reported for the same period in 2008. The West Virginia-based gambling company said Friday the loss translates to 88 cents per share, compared with 17 cents per share the year before. Chief Executive Officer Robert Griffin blamed the hit on several factors, including a successful $5.7 million investment in lobbying for slot machines in Ohio, and a $1.6 mill  

MTR Gaming Group, Inc. (NASDAQ: MNTG ) reports Q4 loss of $0.20 ex-items, versus the analyst estimate of ($0.19). Revenue for the quarter was $93.8 million, which compares to the estimate of $96.93 million.  

 

MTR Gaming Group, Inc. (NasdaqGS: MNTG) today announced financial results for the fourth quarter and full year ended December 31, 2009. Current and prior-year results reflect the presentation of Running Aces Harness Park, Jackson Harness Raceway, the Ramada Inn and Speedway Casino and Binion's Gambling Hall & Hotel as discontinued operations. See attached tables (including Reconciliation of GAAP net income (loss) to Non-GAAP Adjusted EBITDA).

We believe our properties are holding up well in the face of increased competition   -Robert Griffin

 

MTR Gaming Group, Inc. (NasdaqGS: MNTG) today announced financial results for the fourth quarter and full year ended December 31, 2009. Current and prior-year results reflect the presentation of Running Aces Harness Park, Jackson Harness Raceway, the Ramada Inn and Speedway Casino and Binion’s Gambling Hall & Hotel as discontinued operations. See attached tables (including Reconciliation of GAAP net income (loss) to Non-GAAP Adjusted EBITDA).