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Company Description

Contact Info

State Route 2, South

PO Box 356

Chester, WV 26034

United States

Phone: 304-387-8000

Fax:

MTR Gaming Group, Inc., a hospitality and gaming company, owns and operates racetrack, gaming, and hotel properties in West Virginia, Pennsylvania, and Ohio. The company, through its wholly-owned subsidiaries, owns and operates Mountaineer Casino, Racetrack & Resort in Chester, West Virginia (Mountaineer); Presque Isle Downs & Casino in Erie, Pennsylvania (Presque Isle Downs); and Scioto Downs in Columbus, Ohio (Scioto Downs). Scioto Downs, through its subsidiary, RacelineBet, Inc., also operates Racelinebet.com, a national account wagering service that offers online and telephone wagering on horse races as a marketing affiliate of TwinSpires.com, an affiliate of Churchill Downs, Inc. Properties Mountaineer Mountaineer is located on the Ohio River at the northern tip of West Virginia's northwestern panhandle, approximately 30 miles from the Pittsburgh International Airport and a 1-hour drive from downtown Pittsburgh. Mountaineer is a gaming, entertainment, and convention complex with 106,000 square feet of gaming space housing approximately 2,060 slot machines, 47 casino table games (including blackjack, craps, roulette, and other games), and 12 poker tables; 354 hotel rooms, including the 256-room, 219,000 square foot Grande Hotel at Mountaineer, which offers 29 suites, a full-service spa and salon, a gourmet coffee shop, a 104-seat upscale steakhouse, a 280-seat buffet, and various casual food and beverage outlets, a retail plaza, and an indoor and outdoor swimming pool; 13,500 square feet of convention space, which could accommodate seated meals for groups of approximately 575, as well as smaller meetings in various intimate break-out rooms that could accommodate 75 people and entertainment events for approximately 1,300 guests; live thoroughbred horse racing conducted from March through December on a 1-mile dirt surface or a 7/8 mile grass surface with expansive clubhouse, restaurant, bars, and concessions, as well as grandstand viewing areas with enclosed seating for 770 patrons and 2,800 patrons, respectively; on-site pari-mutuel wagering and thoroughbred, harness, and greyhound racing simulcast from other tracks, as well as wagering on Mountaineer's races at approximately 1,400 sites to which the races are simulcast; Woodview, an 18-hole par 71 golf course measuring approximately 6,550 yards located approximately 7 miles from Mountaineer; a 69,000 square foot theater and events center that seats approximately 5,000 patrons for concerts and other entertainment offerings; a 12,000 square foot fitness center, which has a complement of weight training and cardiovascular equipment, as well as a health bar, locker rooms with steam and sauna facilities, and outdoor tennis courts; and surface parking for approximately 5,400 cars. Presque Isle Downs Presque Isle Downs is located in Erie, Pennsylvania. The 140,000 square foot facility consists of 61,000 square feet of gaming space housing approximately 1,720 slot machines, 37 casino table games, and a 9-table poker room; various dining options, such as a 250-seat buffet, an upscale seating bar and grille with seating for 65-90 patrons, a clubhouse restaurant and various bars, as well as entertainment; live thoroughbred horse racing conducted from May through September on a 1-mile track with a synthetic racing surface with grandstand, barns, paddock and related facilities, and indoor and outdoor seating for approximately 750 patrons; on-site pari-mutuel wagering and thoroughbred and harness racing simulcast from other tracks, as well as wagering on Presque Isle Downs' races at approximately 1,200 sites to which the races are simulcast; and surface parking for approximately 3,225 cars. Scioto Downs Scioto Downs, located approximately 8 miles from downtown Columbus, Ohio, commenced gaming operations in 2012. The 132,000 square foot facility consists of 83,000 square feet of gaming space housing approximately 2,100 video lottery terminals; various dining options, such as a 273-seat buffet, a 100-seat casual dining restaurant, and an 82-seat bar/lounge with sound and lights; live standardbred harness horse racing conducted from May through mid-September with barns, paddock, and related facilities for the horses, drivers, and trainers, as well as a grandstand that could accommodate approximately 2,400 patrons and an enclosed clubhouse that could accommodate 500 patrons; on-site pari-mutuel wagering and thoroughbred, harness and greyhound racing simulcast from other tracks, as well as wagering on Scioto Downs' races at approximately 800 sites to which the races are simulcast; and surface parking for approximately 4,100 cars. Environmental Matters The company is subject to various federal, state, and local environmental laws and regulations that govern activities that might have adverse environmental effects, such as discharges to air and water, as well as the management and disposal of solid, animal and hazardous wastes and exposure to hazardous materials. These laws and regulations, which are complex and subject to change, include the United States Environmental Protection Agency, and state laws and regulations that address the impacts of manure and wastewater generated by Concentrated Animal Feeding Operations on water quality, including storm water discharges. Competition Mountaineer and Presque Isle Downs compete with The Rivers Casino and The Meadows Racetrack & Casino for gaming patrons. Presque Isle Downs also competes principally with the Seneca Allegany Casino & Hotel in Salamanca, New York. Mountaineer's racing and pari-mutuel operations compete directly for wagering dollars with racing and pari-mutuel operations at Wheeling Island Casino. History The company was founded in 1988. It was incorporated in 1988 in Delaware under the name Secamur Corporation. In 1996, the company changed its name to MTR Gaming Group, Inc.

 

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Price/Sales 0.3x
Price/Book 918.3x
Price/Cash Flow 8.7x
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