MTR Gaming income down

MTR Gaming Group, the owner of Mountaineer Race Track and Gaming Resort and several other racetrack and casino properties, had net income of $3.2 million in the third quarter of 2005, down 45.8 percent from third-quarter income of $5.9 million in 2004, according to financial documents released on Monday.

MTR Gaming's total expenses in the quarter were up 22.3 percent, to $86.7 million from $70.9 million last year. Revenue was up 14.1 percent, to $95.5 million from $83.7 million.

Revenue from horse racing in the third quarter at Mountaineer and Scioto Downs in Ohio was $4.1 million, down 4.7 percent compared with last year's third-quarter revenue figure of $4.3 million, according to the documents. Mountaineer does not break out profit and loss figures for its parimutuel operations.

In a release, MTR said it had "lower than expected traffic and revenues" at its Las Vegas property, Binion's, and at Mountaineer Park.