Speedway Casino operator posts quarterly results

Wednesday, March 22, 2000 | 10:23 a.m.

MTR Gaming Group Inc., the West Virginia-based owner and operator of the Speedway Casino in North Las Vegas, posted a 47 percent drop in net income for the fourth quarter of 1999, results it attributes to opening costs for its Nevada properties.

MTR recorded net income of $391,000, or 2 cents per share, in the quarter ending Dec. 31, down from net income of $734,000, or 3 cents per share, in the year-ago quarter.

Revenue during the period, however, climbed 40 percent to $31.1 million, while cash flow rose 29 percent to $4.5 million. Both were records for the company.

MTR owns and operates two Nevada casinos -- the Speedway Casino in North Las Vegas and the Speakeasy Casino in Reno.

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