MTR Gaming Group Slips To Loss In Q2 - Quick Facts

(RTTNews) - MTR Gaming Group, Inc. (MNTG) reported that its net loss for the second quarter of 2014 was $1.2 million or $0.04 per share, compared to net income of $2.4 million, or $0.08 per share, in the same period of 2013.

Excluding $0.4 million in strategic transaction costs associated with MTR Gaming's impending merger with Eldorado HoldCo LLC, the net loss in the second quarter of 2014 would have been $0.8 million, or $0.03 per share.

Adjusted EBITDA in the second quarter of 2014 was $25.6 million, a decrease of 7.0% from the prior-year period, and adjusted EBITDA margin was 20.5%, a decrease of 40 basis points from the prior-year period.

Total net revenues were $124.9 million, a decrease of 4.9% compared to $131.4 million in the same period of 2013.

The decrease in the Company's net revenues and adjusted EBITDA for the second quarter of 2014 was primarily attributable to additional gaming competition from Ohio, as well as continued competitive pressure from existing casinos in that market.