MTR Gaming Group, Inc. Announces Consent Solicitation Relating to Its 11.50% Senior Secured Second Lien Notes Due 2019

CHESTER, W.Va.--(BUSINESS WIRE)--MTR Gaming Group, Inc. (NasdaqGS:MNTG) (the “Company”) announced today that it is soliciting consents (the "Consent Solicitation") from the registered holders as of 5:00 p.m., New York City time on December 5, 2013, of its 11.50% Senior Secured Second Lien Notes due 2019 (CUSIP No. 553796 AL4) (the "Notes"), of which $570,664,114 in aggregate principal amount is outstanding, to amend the Indenture governing the Notes to permit the formation of a new holding company as a result of the transactions contemplated by the Agreement and Plan of Merger, dated as of September 9, 2013, as amended (together, the “Merger Agreement”), by and among the Company, Eclair Holdings Company, a direct wholly owned subsidiary of the Company (“NewCo”), Ridgeline Acquisition Corp., a direct wholly owned subsidiary of NewCo, Eclair Acquisition Company, LLC, a direct wholly owned subsidiary of NewCo, Eldorado HoldCo LLC (“Eldorado”), and Thomas Reeg, Robert Jones, and Gary Carano as the representatives of the members of Eldorado, without requiring the Company to effect a change of control offer under the Indenture and the Notes.