MTR Gaming Profits Jump 16 Percent

MTR Gaming Group Inc.'s first-quarter profit rose 16 percent to $3.4 million as marketing efforts and mild weather boosted gambling revenues at its flagship property. Net income for the three-month period ending March 31 translated to 12 cents per share on revenues of $93 million. That compares with a profit of $2.9 million, or 10 cents per share, on revenues of $76.5 million in the same period last year, MTR said Wednesday.

The Chester-based company rebounded from a slide in the fourth quarter, during which it earned only $41,000. The bulk of MTR's net revenues came from Mountaineer Race Track & Gaming Resort in Chester. Net revenues at Mountaineer were $71.8 million, compared to $68.4 million in the first quarter of 2005. MTR attributed the improvement at Mountaineer to targeted marketing campaigns, mild weather and the introduction of new game themes and enhanced slots.

June 7, 2006
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!