Empire Resorts Concludes $55,000,000 Investment Agreement with Kien Huat Realty III Limited Aug 20, 2009
Source: Empire Resorts, Inc. ... MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: - ) (the Company) announced today that it has entered into an Investment Agreement with Kien Huat Realty III Limited (Kien Huat) under which $55 million in new equity capital will be invested in the Company in two tranches in exchange for Common Stock representing just under 50% of the voting power of the Company ... About Empire Resorts. (Yahoo! Wire -- Entertainment News)
Empire Resorts Announces the Acquisition of its $10,000,000 Bank of Scotland Credit Facility by the Park Avenue Bank of New York Jul 29, 2009
Source: Empire Resorts, Inc. ... MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: ) announced today that The Park Avenue Bank of New York (the Bank) has acquired its $10,000,000 secured credit facility from the Bank of Scotland ... The facility continues to be secured by the general credit of Empire Resorts, its receivables and licenses, as well as a first mortgage on the 230-acre Monticello Raceway and all other assets of the Company and its affiliates. (Yahoo! Wire -- Entertainment News)
Empire Resorts Hires KPMG Corporate Finance LLC to Secure Additional Capital Jun 5, 2009
Press Release Source: Empire Resorts, Inc. ... MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: ) announced today that the Company has retained KPMG Corporate Finance LLC to assist the Company to secure additional capital to execute its business plan and to evaluate its strategic alternatives ... About Empire Resorts. (Yahoo! Wire -- Entertainment News)
Downstate deal for DNC May 19, 2009
Under the terms of a multi-year contract signed between Empire Resorts and Delaware North, the Buffalo-based company will devise strategic advisory, marketing and management services for the gaming an racing operations at Monticello. The deal is the latest in a series of actions being taken by Empire Resorts to restructure operations, look for maximum earning potential and improve profitability at the venerable track, which sits on a 230-acre parcel. (Buffalo Business First, NY)
Empire Resorts Appoints Bruce Berg and Ralph Bernstein to Lead Company During Restructuring Phase Apr 16, 2009
Press Release Source: Empire Resorts, Inc. ... MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: - ) announced today that two of its directors, Bruce Berg and Ralph Bernstein, have been appointed by the Companys Board of Directors as the Special Committee that is to lead the Company during its restructuring phase along with the Companys newly appointed Chief Restructuring Officer, Eric Reehl ... An affiliate of the company, Americas Tower Partners, was previously designated... (Yahoo! Wire -- Entertainment News)
Empire Resorts Execs Resign, Company Relocates Apr 15, 2009
Empire Resorts leaders resign; company says it will cut costs and move headquarters ... Struggling gaming company Empire Resorts says its two top leaders are stepping down, it is relocating its headquarters and taking other cost-cutting measures. (ABC News -- Wire)
Empire Resorts Implements Cost Cutting Program and Relocates Las Vegas Headquarters Apr 15, 2009
Press Release Source: Empire Resorts, Inc ... MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc (NASDAQ: - ) today announced that it continues to implement its cost cutting program and is relocating its Las Vegas, NV headquarters to New York ... The Empire Resorts Board of Directors thanked Mr. Hanlon and Mr. Radcliffe for their tenures as CEO and CFO and wished them well in their future endeavors. (Yahoo! Wire -- Entertainment News)
Maryland Rejects Two Bids For Slots Feb 13, 2009
The commission also shut out a bid from New York-based Empire Resorts, which wanted to put slot machines at Rocky Gap State Park. The commission made its decision after Robert Howells, the procurement officer for the Maryland Lottery Agency, and Bonnie Kirkland, an assistant attorney general, advised the panel that the law did not appear to allow them to consider bids without licensing fees. (W-USA News, DC)
