Mountaineer Casino revenue fell millions

Mar 31, 2009 5:03 PM
Earnings by Ray Poirier | Competitive pressures from Pennsylvania showed up prominently in the financial results reported by MTR Gaming Group for the fourth quarter that ended on Dec. 31, 2008.

The company reported a loss from continuing operations of $4.2 million or $0.15 per share. A year earlier, the loss was $7.7 million or $0.28 per diluted share.

Slots revenue at its Mountaineer Casino, Racetrack & Resort fell $6.6 million due to increased competition, the company said. Making up some of the loss was a 6% increase in table game revenue.

The report noted that the company had reclassified Ramada Inn and Speedway casino and Binion’s Gambling Hall & Hotel in Nevada, and Jackson Harness Raceway as discontinued operations.