834162--3/16/2009--MTR_GAMING_GROUP

related topics

{capital, credit, financial}

{condition, economic, financial}

{debt, indebtedness, cash}

{stock, price, share}

{investment, property, distribution}

{acquisition, growth, future}

{regulation, change, law}

{competitive, industry, competition}

{financial, litigation, operation}

{cost, regulation, environmental}

{property, intellectual, protect}

{personnel, key, retain}

Risks Related to Current Economic Conditions The volatility and disruption of the capital and credit markets and adverse changes in the U.S. and global economies may negatively impact our revenues and our ability to access financing. Risks Related to Our Business We depend on Mountaineer and Presque Isle Downs for the majority of our revenues, and, therefore, any risks faced by those operations could have a material impact on our results of operations. We face significant competition from other gaming and racing facilities, and increased competition could have a material adverse effect on us. We are subject to extensive regulation by gaming and racing authorities. We depend on agreements with our horsemen and parimutuel clerks to operate our business. We are required to schedule a minimum number of live racing days in West Virginia and Pennsylvania. Our gaming operations are dependent on our linkage of slot machines to state central systems. We may face disruption in developing and integrating facilities we may expand or acquire, including financing, construction and other development risk. Some of our intellectual property is not protected by federally registered trademarks; we rely on common law rights. We are or may become involved in legal proceedings that could impact our financial condition. We depend on our key personnel. Our business may be materially and adversely affected by recession or economic downturn; the seasonal nature of our business could also materially and adversely affect our cash flows. We are subject to environmental laws and potential exposure to environmental liabilities. The evolution of the slot machine manufacturing industry could impose additional costs on us. Risks Related to Our Capital Structure Our substantial indebtedness could adversely affect our financial health. We must refinance our 9.75% $130 million senior unsecured notes by January 2, 2010 and our senior secured revolving credit facility by March 31, 2010. The availability and cost of financing could have a material adverse effect on our business. To service our indebtedness, we will require a significant amount of cash, which depends on many factors beyond our control. Risks Related to Our Common Stock If the price of our common stock declines below $1.00 per share for a sustained period, our common stock may be delisted from the NASDAQ Global Select Market.

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834162--3/16/2009--MTR_GAMING_GROUP_INC