| To: clutterer who wrote (625) | 5/2/2001 8:22:18 AM | | From: Captain Jack | | | | Record EPS Q! '01! for MNTG!!!!!!!!!!!!!
CHESTER, W.V., May 2, 2001 (BUSINESS WIRE) -- MTR Gaming Group, Inc. (Nasdaq
National Market:MNTG) today announced record financial results for the first
quarter ended March 31, 2001. See attached tables.
First Quarter Financial Highlights - versus fiscal 2000 first quarter
- Total revenues rose 35% to $48.6 million. - EBITDA increased 28% to $9.7
million. - Operating income was up 27% to $7.7 million. - Net income grew 28% to
$4.3 million or $.17 per diluted share.
Net win from slot operations at the Company's Mountaineer Racetrack and Gaming
Resort increased 33% to $41 million in the first quarter compared to the same
period last year, while net win-per-day-per-machine was $240 (with 1905
machines) compared to $253 (with 1355 machines) in the first quarter of 2000.
Edson R. (Ted) Arneault, President and CEO of MTR Gaming Group, stated, "We are
pleased to have started the year with a strong quarter. These results were
achieved due to our expanded operations and marketing efforts for Mountaineer,
despite the harsh weather we experienced during January and February.
"We continued to expand our export simulcasting, which contributed $567,000 to
the Company's first quarter revenues, an increase of 17% from $485,000 (revised)
in the fourth quarter. Our average daily live handle, including export, was
$734,500 in the first quarter, an increase of 39% from $528,000 (revised) in the
fourth quarter."
Mr. Arneault continued, "Most recently, we were extremely pleased to announce
the increase in the maximum wager for our slots at Mountaineer from $2.00 to
$5.00, assuming the bill the West Virginia Legislature passed on April 21, 2001
becomes law. We fully expect the higher wager to positively impact our financial
results by increasing our net win and attracting new patrons."
Commenting on the Company's Nevada properties, Mr. Arneault stated, "We are
proud to report that our Speedway Property in North Las Vegas operated
profitably for the first time for the month of March, and we intend to build
upon these results. For the first quarter overall, total revenues at our two
Nevada properties increased 80% to $2.9 million from $1.6 million in the first
quarter of 2000, but reduced the Company's earnings by $1.3 million or $.05 per
share. We remain focused on exploring opportunities to achieve profitability in
Reno, as well as on growing profits in Las Vegas."
Mr. Arneault concluded, "We continue to concentrate on the current phase of our
expansion at Mountaineer, which includes the planned opening of a new gaming
(COMTEX) B: MTR Gaming Group Announces Record First Quarter Results;
B: MTR Gaming Group Announces Record First Quarter Results; Reports EPS of $.17
vs. $.13
CHESTER, W.V., May 2, 2001 (BUSINESS WIRE) -- MTR Gaming Group, Inc. (Nasdaq
National Market:MNTG) today announced record financial results for the first
quarter ended March 31, 2001. See attached tables.
First Quarter Financial Highlights - versus fiscal 2000 first quarter
- Total revenues rose 35% to $48.6 million. - EBITDA increased 28% to $9.7
million. - Operating income was up 27% to $7.7 million. - Net income grew 28% to
$4.3 million or $.17 per diluted share.
Net win from slot operations at the Company's Mountaineer Racetrack and Gaming
Resort increased 33% to $41 million in the first quarter compared to the same
period last year, while net win-per-day-per-machine was $240 (with 1905
machines) compared to $253 (with 1355 machines) in the first quarter of 2000.
Edson R. (Ted) Arneault, President and CEO of MTR Gaming Group, stated, "We are
pleased to have started the year with a strong quarter. These results were
achieved due to our expanded operations and marketing efforts for Mountaineer,
despite the harsh weather we experienced during January and February.
"We continued to expand our export simulcasting, which contributed $567,000 to
the Company's first quarter revenues, an increase of 17% from $485,000 (revised)
in the fourth quarter. Our average daily live handle, including export, was
$734,500 in the first quarter, an increase of 39% from $528,000 (revised) in the
fourth quarter."
Mr. Arneault continued, "Most recently, we were extremely pleased to announce
the increase in the maximum wager for our slots at Mountaineer from $2.00 to
$5.00, assuming the bill the West Virginia Legislature passed on April 21, 2001
becomes law. We fully expect the higher wager to positively impact our financial
results by increasing our net win and attracting new patrons."
Commenting on the Company's Nevada properties, Mr. Arneault stated, "We are
proud to report that our Speedway Property in North Las Vegas operated
profitably for the first time for the month of March, and we intend to build
upon these results. For the first quarter overall, total revenues at our two
Nevada properties increased 80% to $2.9 million from $1.6 million in the first
quarter of 2000, but reduced the Company's earnings by $1.3 million or $.05 per
share. We remain focused on exploring opportunities to achieve profitability in
Reno, as well as on growing profits in Las Vegas."
Mr. Arneault concluded, "We continue to concentrate on the current phase of our
expansion at Mountaineer, which includes the planned opening of a new gaming
room this coming July to encompass 595 additional slots (subject to regulatory
approval), a convention center in August, and a new 260-room hotel during the
first quarter of 2002. In light of these pending additions to Mountaineer, as
well as the current visitation levels and the pending increase in the maximum
slot wager, we are very optimistic about the Company's outlook."
Conference Call
Edson R. (Ted) Arneault, President and CEO, will conduct a conference call
focusing on the financial results and the progress of the Company's expansion in
West Virginia at 10:00 a.m. ET on Wednesday, May 2, 2001. Interested parties may
participate in the call by dialing 212-748-2819 approximately 10 minutes before
the call is scheduled to begin. The conference call will be broadcast live over
the Internet via the Investor Relations section of the Company's web site at
www.mtrgaming.com. To listen to the live call please go to the website at least
15 minutes early to register, download and install any necessary audio software.
If you are unable to listen live, the conference call will be archived and can
be accessed for approximately 90 days. A recorded phone replay of the call will
also be available from 12:00 noon ET on Wednesday, May 2, 2001 to 12:00 noon ET
on Thursday, May 3, 2001. Listeners may dial 800-633-8284 (858-812-6440 for
international callers) and use the code 18721831 for the phone replay.
About MTR Gaming Group
MTR Gaming Group, Inc., a West Virginia-based corporation, through subsidiaries,
owns and operates the Mountaineer Racetrack & Gaming Resort in Chester, West
Virginia, the Ramada Inn and Speedway Casino in North Las Vegas, and the Ramada
Inn and Speakeasy Casino in Reno, Nevada. The Mountaineer complex currently
encompasses a thoroughbred racetrack, including off track betting and export
simulcasting, 1,905 video lottery terminals, a 101-room hotel, golf course, Spa
& Fitness Centre, fine dining and entertainment, the Speakeasy Gaming Saloon,
and The Harv. |
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| To: freeus who wrote (627) | 7/5/2001 10:47:45 PM | | From: Captain Jack | | | | | WoW!! Still quiet on this great trader and holder,,, unbelievable! With luck ryan bought Mon will be 10% as good,,, |
| | MNTG... MTR Gaming.... Let's Go To The Races.... | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| To: freeus who wrote (627) | 7/6/2001 12:06:26 AM | | From: Captain Jack | | | | freeus--- try this one with stringent parameters. This is what was used to find mntg on 4/4/1 and ryan last Mon..
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