MTR Gaming stock surges

Tuesday, Feb. 1, 2005 | 9:17 a.m.

MORGANTOWN, W.Va. -- Shares in MTR Gaming Group Co. shot up nearly 5 percent Monday to close at $11.92, a gain its chief executive attributed to a good day on the market and recent favorable developments for the company

Shares closed up 4.93 percent at $11.92 on Nasdaq, after closing Friday at $11.36.

"We've had a good month, and the word is getting out," said President and CEO Ted Arneault.

In January, the parent of Chester-based Mountaineer Racetrack & Gaming Resort won approval from Minnesota regulators for a harness racing track and card room. That project is a joint venture between MTR subsidiary North Metro Harness Initiative LLC and Southwest Casino and Hotel Corp.

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