October 20, 2014 11:06 PM ET

Hotels, Restaurants and Leisure

Company Overview of Presque Isle Downs, Inc.

Company Overview

Presque Isle Downs, Inc. is a casino in Pennsylvania. The company operates a resort facility that features penny and dime slots machines, as well as table games, video poker, and daily poker tournaments. It also includes a clubhouse and lounge that provides casual dining and race track facilities; and hotels, which offer buffet breakfast, lunch, and dinner, as well as other amenities. The company was founded in 1984 and is based in Erie, Pennsylvania. Presque Isle Downs, Inc. operates as a subsidiary of MTR Gaming Group, Inc.

8199 Perry Highway

Erie, PA 16509

United States

Founded in 1984

Phone:

814-860-8999

Fax:

814-860-3390

Key Executives for Presque Isle Downs, Inc.

Vice President
Age: 48
General Manager
Age: 51
Chief Marketing Officer of MTR Gaming Group Inc and Vice President of MTR Gaming Group Inc
Age: 57
Compensation as of Fiscal Year 2014.

Presque Isle Downs, Inc. Key Developments

Presque Isle Downs & Casino Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Presque Isle Downs & Casino announced unaudited earnings results for the second quarter and six months ended June 30, 2014. Net revenues at Presque Isle Downs & Casino decreased 10.4% to $37.7 million in the second quarter of 2014 compared to $42.1 million in the second quarter of 2013. The property generated adjusted EBITDA of $5.9 million compared to $7.4 million in the same quarter of 2013. The decrease in the Company's net revenues and adjusted EBITDA for the second quarter of 2014 was primarily attributable to additional gaming competition from Ohio, as well as continued competitive pressure from existing casinos in that market. For the six months, net revenues were $70,817,000 and adjusted EBITDA from continuing operations was $9,988,000 against net revenues of $79,668,000 and adjusted EBITDA from continuing operations of $13,658,000 a year ago.

Presque Isle Downs and Casino Reports Revenue Results for the Month Ended July 2014

Presque Isle Downs and Casino reported revenue results for the month ended July 2014. For the month, the company reported gross revenue of $11,127,212.15 against $12,374,078.97 a year ago.

Presque Isle Downs, Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Presque Isle Downs, Inc. reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net revenues were decreased 11.9% to $33.1 million in the first quarter of 2014 compared to $37.6 million in the first quarter of 2013. Revenues from slots and table games decreased by $3.7 million and $0.6 million, respectively, compared to the same quarter of 2013. The company generated adjusted EBITDA of $4.1 million compared to $6.3 million in the same quarter of 2013.

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