Empire Resorts Announces Completion of Modified Environmental Assessment; St. Regis Mohawk Tribe Submits to BIA
06 July 2006 - 3:25AM
Business Wire
Empire Resorts, Inc. ("Empire") (NASDAQ: NYNY) today announced that
its partner, the St. Regis Mohawk Tribe, has submitted the
requested information and a modified Environmental Assessment (EA)
to the Department of the Interior's Bureau of Indian Affairs (BIA).
The BIA will notify the Tribe when it has reviewed all items and
determined whether a FONSI (Finding of No Significant Impact) can
be issued. There is no timetable for when this may occur. About
Empire Resorts Empire operates the Monticello Raceway and is
involved in the development of other legal gaming venues. Empire
opened Mighty M Gaming at the Raceway site on June 30, 2004. This
facility features over 1,500 video gaming machines (VGMs) and
amenities such as a 350-seat buffet and live entertainment. Empire
is also working to develop a "Class III" Native American casino for
the St. Regis Mohawk Tribe on a site adjacent to the Raceway and
other gaming and non-gaming resort projects in the Catskills region
and other areas. For more information visit 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.
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