MTR Gaming Group Announces Completion of Amendment of Credit Facility
CHESTER, W.Va.-(Business Wire)-December 22, 2008 - MTR Gaming Group, Inc. (NasdaqGS: MNTG) announced today that the Company entered into an amendment to its secured revolving credit facility. As amended, the maturity date of the credit facility, in the event that the Company’s Senior Unsecured Notes are not refinanced, has been extended from October 1, 2009 to January 2, 2010. The credit facility, as amended, also includes various add backs to EBITDA for leverage coverage ratio purposes as well as changes in the method of calculating the interest rate. This press release is only a summary of the amendment and does not purport to describe all of its terms and conditions. Further information can be found in the Company’s current report on Form 8-K, as filed with the Securities and Exchange Commission on December 19, 2008, which includes a copy of the amendment as an exhibit.
About MTR Gaming Group
MTR Gaming Group, Inc., through subsidiaries, owns and operates Mountaineer Casino, Racetrack & Resort in Chester, WV; Presque Isle Downs & Casino in Erie, PA; and Scioto Downs in Columbus, OH. The Company also owns a 50% interest in the North Metro Harness Initiative, LLC, which operates Running Aces Harness Park in Minneapolis, MN. For more information, please visit www.mtrgaming.com.
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