Empire Resorts Announces Dismissal of Lawsuit Brought by Concord Associates, L.P.
21 September 2013 - 2:25AM
Business Wire
Empire Resorts, Inc. (NASDAQ-GM:NYNY) announced that on
September 18, 2013, the United States District Court for the
Southern District of New York granted Motions to Dismiss filed by
Empire Resorts, Inc. (“Empire”) and all other defendants in Concord
Associates, L.P. v. Entertainment Properties Trust. This lawsuit
was originally filed by Concord Associates, L.P. and associates
(“Concord Associates”) in March 2012 and asserted in an amended
complaint various federal antitrust claims against Empire and its
wholly-owned subsidiary, Monticello Raceway Management, Inc.
(collectively, the “Company”), Entertainment Properties Trust and
its wholly-owned subsidiary, EPT Concord II, LLC (collectively,
“EPR”), Genting NY LLC and Kien Huat Realty III Limited. The claims
arose out of the Company’s exclusivity agreement and option
agreement with EPR to develop the site of the former Concord Resort
located in Sullivan County, New York. Concord Associates brought
federal antitrust claims against the Company for conspiracy in
restraint of trade, conspiracy to monopolize and monopolization.
Concord Associates also brought state law claims for tortious
interference with contract and business relations. Concord
Associates sought damages in an amount to be determined at trial
but not less than $500 million (subject to automatic trebling under
federal antitrust laws), unspecified punitive damages and permanent
injunctive relief. In its decision, the Court dismissed Concord
Associates’ federal antitrust claims with prejudice, meaning that
they are dismissed on the merits subject to Concord Associates’
right to appeal, and the Court dismissed Concord Associates’ state
law claims without prejudice, meaning they could be further pursued
in a state court.
About Empire
Empire Resorts, Inc. owns and operates, through its subsidiary
Monticello Raceway Management, Inc., the Monticello Casino and
Raceway, a harness racing track and casino located in Monticello,
New York, and is 90 miles from midtown Manhattan. For additional
information, please visit www.empireresorts.com.
Empire Resorts, Inc.Charles Degliomini,
845-807-0001cdegliomini@empireresorts.com
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