MTR Gaming
Earnings to Miss Expectations
Casino operator MTR Gaming
Group Inc. said Monday that third-quarter profit
will come in below expectations due to sluggish
traffic at two of its properties.
MTR Gaming now projects earnings of
$2.8 million to $3 million, or 10 cents per
share. Analysts polled by Thomson Financial,
on average, were expecting the company to earn
18 cents a share for the quarter.
MTR attributed the shortfall to lower-than-anticipated
traffic and revenue at its Mountaineer Race
Track & Gaming Resort in Chester, W. Va.,
and Binion's Gambling Hall & Hotel, in Las
Vegas, as well as higher operating expenses.
The company sees total revenue up more than
16 percent at $97.5 million to $98 million,
from $84 million posted in the year-ago quarter.
MTR will release its final third-quarter results
November 7.
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