MTR Gaming plans to repay facility in full via secured notes proceeds

By Jennifer Chiou

New York, July 15 - MTR Gaming Group, Inc. announced plans to repay all amounts outstanding under its senior secured credit facility using some of the proceeds from an offering of $250 million of senior secured notes due 2014.

Remaining proceeds, along with cash on hand, will be applied to the purchase of some of the company's existing notes.

MTR Gaming is a Chester, W.Va.-based company involved in gaming, horseracing and hotel properties.

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