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Profit falls for Speedway Casino owner

Wednesday, May 7, 2003 | 9:45 a.m.

CHESTER, W.Va. -- MTR Gaming Group's net income fell 34 percent during the first quarter as the company absorbed the costs of last year's expansion projects.

Net income for the quarter ending March 31 was $3.32 million, or 12 cents per share, on revenue of $63.6 million, MTR Gaming reported Tuesday.

That compares with net income of $5.05 million, or 19 cents per share, on revenue of $59.4 million during the same period last year.

Overall revenue was up 7 percent from last year's quarter for MTR, which owns the Mountaineer Race Track & Gaming Resort in West Virginia and the Speedway Casino in North Las Vegas.

MTR is building a horse track near Erie, Pa., and is buying the Scioto Downs Inc. track near Columbus, Ohio.

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