First opened in 1951 as Waterford Park by the Charles Town Jockey Club, in Chester, West Virginia, the track was renamed Mountaineer Park in 1987 and Mountaineer Race Track in 2001. Mountaineer is owned by MTR Gaming Group Inc. which also owns Presque Isle Downs in Pennsylvania and Scioto Downs in Ohio.
In 1993, legislation was passed in West Virginia which allowed the track to operate slot machines at their facility. Today there are more than 3,500 slot machines in operation at the track. The revenue generated from this alternative gaming source has allowed Mountaineer to improve it facilities, offer larger purses for their races, and has helped attract better quality and an increased number of horses. With the success of their racing and gaming operations, Mountaineer Race Track has expanded to include a hotel, golf course, spa, theater, and other entertainment facilities.