Empire Resorts Comments on Mohegan Sun Concord Announcement
06 May 2011 - 10:09PM
Business Wire
Empire Resorts, Inc., (NASDAQ: NYNY) (Empire) today issued the
following statement in response to the Mohegan Tribal Gaming
Authority’s (Authority) announcement that it has reached an
agreement with Concord Associates, a business owned by Louis
Cappelli, to revive the restoration of the Concord hotel project in
Kiamesha Lake, N.Y.
At this time, neither Concord Associates, nor the Authority have
valid New York State licenses to operate a harness racetrack or
video gaming machines (VGMs) in Sullivan County, prerequisites to
the operation of VGMs at the proposed development. In addition,
Empire does not believe that such licenses can be obtained by
Concord Associates or the Authority under New York law and intends
to vigorously oppose any request to obtain such licenses, including
if necessary, by pursuing all of its available legal rights and
remedies.
Empire’s Monticello Casino & Raceway is New York State’s
current Sullivan County harness racing and VGM licensee. Since our
opening in June of 2004, we have contributed over $200 million to
New York State education and the company employees over 300 local
residents.
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.
Cautionary Statement Regarding Forward Looking
Information
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 on Form 10-K for the most
recently ended fiscal year, as amended, as well as the company's
Quarterly Report on Form 10-Q for the most recently ended fiscal
quarter.
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