SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* JACOBS RICHARD E (Last) (First) (Middle) 25425 CENTER RIDGE ROAD (Street) CLEVELAND OH 44145 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 10/31/2006	3. Issuer Name and Ticker or Trading Symbol MTR GAMING GROUP INC [ MNTG ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
$.00001 par value common stock	1,274,009	D
$.00001 par value common stock	813,618	I	Please see footnote(1)
$.00001 par value common stock	1,213,936	I	Please see footnote(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Richard E. Jacobs is the settlor, trustee and sole beneficiary of The Richard E. Jacobs Revocable Living Trust, dated April 23, 1987 (the "Trust"). With respect to 813,618 shares of common stock shown as indirectly owned, the Trust owns the shares indirectly by virtue of its 50% ownership of Jacobs Entertainment, Inc.

2. With respect to 1,213,936 shares of common stock shown as indirectly owned, the Trust owns the shares indirectly by virtue of its 50% ownership of Gameco Holdings, Inc.

	/s/ Jay C. Stiffler, by Power of Attorney	11/13/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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