Empire Resorts Provides Update on St. Regis Mohawk Casino
03 November 2006 - 4:37AM
Business Wire
Empire Resorts, Inc. (NASDAQ: NYNY) announced that management is
not aware of any news that could account for today�s trading
activity. The company and its partners, the St. Regis Mohawk Tribe,
continue to await a decision from the Bureau of India Affairs (BIA)
in regards to issuance of a Finding of No Significant Impact
(FONSI) related to the planned St. Regis Mohawk casino at
Monticello. The company believes the BIA is proceeding with the
normal course of review and will notify the Tribe when it has
determined whether a FONSI can be issued. 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 1,500 video gaming machines and amenities such as a
350-seat buffet and live 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.
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, Inc. (NASDAQ:
NYNY) announced that management is not aware of any news that could
account for today's trading activity. The company and its partners,
the St. Regis Mohawk Tribe, continue to await a decision from the
Bureau of India Affairs (BIA) in regards to issuance of a Finding
of No Significant Impact (FONSI) related to the planned St. Regis
Mohawk casino at Monticello. The company believes the BIA is
proceeding with the normal course of review and will notify the
Tribe when it has determined whether a FONSI can be issued. 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 1,500 video gaming machines and
amenities such as a 350-seat buffet and live 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. 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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