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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