Mountaineer parent company merges with Eldorado Resorts

MTR Gaming, the owner of Mountaineer Park in West Virginia and Presque Isle Downs in Pennsylvania, has completed a merger with Eldorado Resorts Inc., a small casino operator, in an all-stock transaction.

The combined company will own six casinos, including Scioto Downs in Ohio. The racing operations of both Mountaineer and Presque Isle receive tens of millions of dollars annually in subsidies from the casino side of their businesses.

Under the deal, MTR Gaming will cease trading under its own stock symbol. The combined company will trade on the NASDAQ Global Select Market under the symbol ERI.