Chester, West Virginia – MTR Gaming Group Inc. has completed the sale of its Speedway Casino in Nevada.
Lucky Lucy D paid USD 2 million in cash. It will pay off a balance of up to USD 4.77 million under an earn-out formula based on gross revenues over a four-year period.
In January, MTR sold the casino’s real estate to Ganaste LLC, an affiliate of Lucky Lucy D, for USD 11.4 million.
The property will now be considered discontinued.
MTR is the parent of Mountaineer Casino, Racetrack & Resort in Chester and Pennsylvania’s Presque Isle Downs & Casino. It also has properties in Michigan, Minnesota and Ohio.