North Las Vegas casino owner posts lower results

Wednesday, Nov. 6, 2002 | 11:15 a.m.

CHESTER, W.Va. -- MTR Gaming Group, owner of a West Virginia gambling business and a casino in North Las Vegas, today reported a third-quarter profit of $6.2 million or 22 cents per share, down from $6.8 million or 25 cents in the 2001 quarter.

Revenue increased 26 percent to a record $77.2 million and cash flow, or EBITDA, rose 10 percent to a record $14.7 million.

The company won $64.6 million from gamblers playing its 2,625 slot machines at its Mountaineer Race Track & Gaming Resort in West Virginia.

Revenue at MTR's Speedway casino in North Las Vegas advanced 18 percent to $2.4 million, while efforts continued to sell the company's Reno property.

archive