JACOBS RESIGNS FROM BOARD OF MTR GAMING

MTR Gaming Group, Inc. announced its fourth-quarter loss late last week. In additon, the company also announced the resignation of two of its board members, including the Chairman of the Board, Jeff Jacobs. Jacobs is also the chairman of Jacob’s Entertainment which owns and operates Colonial Downs.

The casino-operator posted a fiscal fourth-quarter loss of $24.2 million or 88 cents per share, which compares to a year-ago loss of $4.5 million, or 17 cents per share.

The company saw an adjusted fourth-quarter loss from continuing operations of 87 cents, widening from the year-ago adjusted loss of 17 cents a share.

Net revenue fell to $93.8 million, compared to net revenue last year of $101.3 million in the fourth quarter.

MTR Gaming also announced the resignation of Jeffrey P. Jacobs, chairman of the Board of Director, along with board member Stanley R. Gorom III. Steven M. Billick was elected to the board and will replace Jacobs as chairman.

Jacobs has noted he resigned to focus his attention on other company interests.

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