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MTR Gaming reports wider loss

| Wednesday, July 30, 2008

MTR Gaming Group today reported a $2.3 million quarterly loss but higher revenue, mainly from the recent launch of table games at its Mountaineer Casino Racetrack & Resort in West Virginia.

MTR stock traded at $4.05, up 10 cents a share, at mid-morning.

Revenue increased to almost $127 million from less than $115 million a year ago. The Chester-based company introduced poker and other table games in the spring quarter.

The loss of $2.3 million, or minus 8 cents a share, compared with a $502,000 loss the year before. Wall Street had expected a loss of 3 cents, said an analyst poll by Zacks Investment Research.

Earnings were dampened largely by the costs of launching table games at the West Virginia resort, as well as higher interest expenses.

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