Empire Resorts Comments on Mohawk Decision
05 November 2005 - 1:22AM
Business Wire
Empire Resorts, Inc. (NASDAQ: NYNY) today confirmed that it is in
receipt of a letter, dated November 2, 2005, from the St. Regis
Mohawk Tribal Council to Philip Hogen, Chairman of the National
Indian Gaming Commission, and George Skibine, the Bureau of Indian
Affairs' Acting Deputy Assistant Secretary for Economic Development
and Policy, stating that the Tribe has formally decided to pursue a
casino project solely with Empire Resorts at the Monticello
Raceway. The Tribe has withdrawn its application for land at the
Kutsher's site and requested an expedited review of its application
to acquire 29.31 acres at Monticello. David P. Hanlon, CEO and
president of Empire Resorts, stated, "We are grateful for the
confidence that the Mohawk Tribe has placed in us and look forward
to finalizing and developing a world-class casino together in the
Catskills." About Empire Resorts, Inc. Empire operates the
Monticello Raceway and is involved in the development of other
legal gaming venues in New York. Empire opened Mighty M Gaming at
the Raceway site on June 30, 2004. This facility features over
1,700 video gaming machines and amenities such as a 350-seat buffet
and live nightly entertainment. Empire is also working to develop a
$500 million "Class III" Native American casino and resort on a
site adjacent to the Raceway and other gaming and non-gaming resort
projects in the Catskills region and other areas. Additional
information can be found at www.empireresorts.com. Statements in
this press release regarding the company's business that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, including the need for regulatory
approvals, financing and successful completion of construction. The
company wishes to caution readers not to place undue reliance on
such forward-looking statements, which statements are made pursuant
to the Private Securities Litigation Reform Act of 1994, and as
such, speak only as of the date made. To the extent the content of
this press release includes forward-looking statements, they
involve various risks and uncertainties including (i) the risk that
the various approvals necessary as described herein and other
approvals required to be obtained from the United States Congress,
the Bureau of Indian Affairs, the National Indian Gaming Regulatory
Commission, the Governor of the State of New York and various other
federal, State and local governmental entities are not received,
(ii) the risk that financing necessary for the proposed programs or
projects may not be able to be obtained because of credit factors,
market conditions or other contingencies, (iii) the risk that
sovereign Native American governments may exercise certain broad
rights with regard to termination of its agreements with the
company (iv) the risk of non-compliance by various counterparties
of the related agreements, and (v) general risks affecting the
company as described from time to time in it's reports filed with
the Securities and Exchange Commission. For a full discussion of
such risks and uncertainties, which could cause actual results to
differ from those contained in the forward-looking statements, see
"Risk Factors" in the company's Annual Report or Form 10-K for the
most recently ended fiscal year.
Empire Resorts (NASDAQ:NYNY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Empire Resorts (NASDAQ:NYNY)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Empire Resorts Inc (NASDAQ): 0 recent articles
More Empire Resorts, Inc. News Articles