MTR Gaming Group to Pursue Private Placement of Notes - Thursday 20th of April 2006

CHESTER, West Virginia MTR Gaming Group, Inc. (Nasdaq National Market:MNTG) today announced that it is pursuing the issuance of $125,000,000 of Senior Subordinated Notes through a private placement.

The Company will use the net proceeds of the proposed private placement of Senior Subordinated Notes to complete construction of its Presque Isle Downs facility, to pay the $50 million slots license fee upon licensing of Presque Isle Downs, to repay certain outstanding indebtedness and for general corporate purposes. Subject to obtaining the consent of the holders of a majority in aggregate principal amount of the Company's 9 3/4% Senior Notes due 2010, the Company expects the proposed private placement to be completed in May.

The Senior Subordinated Notes will rank junior in right of payment to all of MTR's existing and future senior indebtedness (including MTR's senior secured credit facility and its 9 3/4% Senior Notes due 2010) and will rank equal in right of payment with any senior subordinated indebtedness that MTR may incur. The Senior Subordinated Notes will have a fixed rate of interest and will mature in 2012. The Senior Subordinated Notes will be unconditionally guaranteed on a senior subordinated unsecured basis by each of MTR's current and future operating subsidiaries.

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