US horseracing and casino operator MTR Gaming Group has reported that despite negative results in the fourth quarter, it was able to post an increase in full-year revenue for the 12 months through to December 31, 2013.
The firm said that fourth-quarter net revenue totalled $114.8 million (€82.9 million), a slight decrease of 0.8% on the previous year’s figure of $115.8 million.
Adjusted EBITDA also fell to $21 million in the period, a drop of 1% on the corresponding quarter last year.
Despite the disappointing fourth-quarter performance, the firm was still able post full-year net revenue of $497.8 million, an increase of 2.2% on the previous year’s total of $487 million.
Adjusted EBITDA also grew 2.2% from $96.5 million in 2012 to $98.7 million in the last 12 months.
Joseph Billhimer, president and chief operating officer of MTR Gaming, said: “We remain focused on executing our strategy of delivering exceptional service to our customers through balanced and refined marketing initiatives, continuing to improve our facilities and effectively managing our expense structure.”
source : www.igamingbusiness.com
