Empire Resorts Appoints Emanuel R. Pearlman to Board of Directors
01 June 2010 - 11:30PM
Business Wire
Empire Resorts, Inc. (NASDAQ: NYNY) today announced the
appointment of Emanuel R. Pearlman to the Company’s Board of
Directors.
Mr. Pearlman is the founder and Chief Executive Officer of
Liberation Investment Group, a New York-based investment management
and financial consulting firm. His experience in the gaming
industry includes serving as a consultant for Jackpot Enterprises,
Inc. and Bally Entertainment Corporation, where he advised the
companies on their business and financial activities. Mr. Pearlman
also served as a director of Multimedia Games, Inc., a gaming
technology developer and distributor, from 2006 to 2010.
“Manny Pearlman is extremely knowledgeable about casino capital
formation and finance,” said Empire Resorts Chairman of the Board
G. Michael Brown. “He brings invaluable expertise and experience
that will assist Empire Resorts as it seeks to complete its
restructuring and move to the next level as an operating
business.”
“I am extremely honored to be chosen to serve on Empire Resorts’
Board of Directors, and I look forward to working with the Board
and their management team to solve the challenges the Company
faces,” stated Mr. Pearlman.
Prior to founding Liberation, Mr. Pearlman served as the
Executive General Partner of Gemini Partners, L.P. and Gemini
Partners II, L.P., private investment partnerships that specialized
in strategic block investing and financial consulting, from 1988 to
2002. From 2000 to 2001, Mr. Pearlman also served as the Chief
Operating Officer of Vornado Operating Corporation, a
publicly-traded company affiliated with Vornado Realty Trust.
He holds a Bachelor of Arts degree in Economics from Duke
University and a Master of Business Administration degree from the
Harvard Graduate School of Business.
Mr. Pearlman will serve as a Class III director, with a term
expiring at the Company’s 2012 annual meeting of stockholders. He
was appointed to the Company’s Board of Directors pursuant to the
recommendation of Kien Huat Realty III Limited, the Company’s
largest stockholder under the terms of an August 19, 2009
Investment Agreement.
About Empire Resorts
Empire Resorts owns and operates the Monticello Casino &
Raceway, a harness racing track and casino located in Monticello,
New York, and 90 miles from midtown Manhattan. For additional
information, please visit www.empireresorts.com.
Statements in this press release regarding the Company's
business that are not historical facts are "forward-looking
statements" that may involve material risks and uncertainties. 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. For a full discussion of
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, as well as the Form 10-Q for the most
recently ended fiscal quarter.
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