Business news digest

NATION

Gaming group hires Norton as COO

CHESTER, W.Va. — MTR Gaming Group Inc. has hired a chief operating officer, luring an executive away from Isle of Capri Casinos Inc.

Robert Norton will start work with MTR by June 8. He has been vice president of business strategy for Missouri-based Isle of Capri for the past year.

A regulatory filing on Monday showed Norton’s two-year contract pays a base salary of $300,000, with 5 percent cost-of-living increases, a $7,200 car allowance, four weeks of vacation and relocation benefits. He’s also eligible for a cash bonus of at least 20 percent of his base pay.

Among MTR’s properties is Mountaineer Casino, Racetrack & Resort in Chester.

Ford launches public offering of common stock

NEW YORK — Ford Motor Co. said Monday it is launching a public offering of 300 million shares of common stock, which it will use in part to help fund its retiree health care trust.

Ford, the only U.S. automaker that has not accepted government aid, said it will use the proceeds of the offering to pay for “general corporate purposes,” including funding its Voluntary Employee Beneficiary Association, or VEBA, with cash instead of stock.

Dearborn, Mich.-based Ford owes $6.3 billion to its VEBA by the end of this year.

Associated Press