MONTICELLO, N.Y.--(BUSINESS WIRE)--May 15, 2018--
Empire
Resorts, Inc. (NasdaqGM: NYNY) (together with its subsidiaries, the
“Company”) lauds the U.S. Supreme Court’s decision to strike down PASPA
and thereby open the door to expanded legalization of sports betting.
“We are prepared to implement sports betting as part of the gaming
experience at our resort casino, Resorts World Catskills, upon the
formulation of relevant regulations in New York State,” said Ryan Eller,
President and Chief Executive Officer of the Company. “We believe the
ruling has the potential to transform how Americans bet on sports and we
are one of the few New York State venues that can be authorized to host
a sports pool under New York’s Gaming Act. It is our hope that New York
State will be ready for New Yorkers to place legal sports bets in time
for the fall football season, baseball’s World Series, or even sooner.”
The New York State Gaming Commission will need to formulate regulations
to govern sports pools before the Company can apply for a license to
offer sports betting at Resorts World Catskills.
The Company held the Grand Opening of Resorts World Catskills this past
weekend from May 11 through May 13. Headlining the festivities was a
performance by legendary comedian and producer Jerry Seinfeld. The
celebration will continue throughout the month of May with a performance
by award-winning singer and songwriter Gavin DeGraw, who is a native of
Sullivan County, New York, on Friday, May 18. The grand opening of
Cellaio, an Italian steakhouse created by celebrity chef Scott Conant,
will follow on May 19.
About the Company
Empire Resorts, Inc. was organized as a Delaware corporation on March
19, 1993, and since that time has served as a holding company for
various subsidiaries engaged in the hospitality and gaming industries.
Our indirect wholly-owned subsidiary, Montreign Operating Company, LLC,
doing business as Resorts World Catskills, owns and operates Resorts
World Catskills, a casino resort which is located in Sullivan County,
New York approximately 90 miles from New York City. Resorts World
Catskills, which opened its doors to the public on February 8th, 2018,
is an all-season integrated resort destination that features more than
100,000 square feet of Las Vegas style gaming including 2,150 slot
machines and over 150 live table games. In addition, Resorts World
Catskills includes 10 varied bar and restaurant experiences, a 332
all-suite hotel, which includes garden suites, penthouse suites and
two-story villas, the Crystal Life Spa, two fitness centers, and the
2,500 seat RW Epicenter. The exclusive third floor VIP gaming area is
designed for top-tier players and features a private lounge. Valet and
complimentary self-parking in the covered garage and outdoor lots are
available.
Through our wholly-owned subsidiary, Monticello Raceway Management,
Inc., we own and operate Monticello Casino and Raceway, a video gaming
machine ("VGM") and harness horseracing facility which is located in
Monticello, New York. Monticello Casino and Raceway features 1,110 VGMs
on a 45,000-square foot gaming floor with a separate high stakes VGM
area. Monticello Casino and Raceway also has three dining options which
include a food court, restaurant and sports bar.
Cautionary Statement Regarding Forward Looking Information
This press release includes "forward-looking statements" intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These statements include
statements about our plans, strategies, financial performance, prospects
or future events and involve known and unknown risks that are difficult
to predict. As a result, our actual results, performance or achievements
may differ materially from those expressed or implied by these
forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as "may," "could,"
"expect," "intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative of
these terms or similar expressions. Such forward-looking statements are
necessarily based upon estimates and assumptions that, while considered
reasonable by the Company and our management team, are inherently
uncertain. Factors that may cause actual results to differ materially
from current expectations include, among others, levels of spending in
business and leisure segments as well as consumer confidence; changes in
the competitive environment in the gaming industry and the markets where
we operate; the extent to which New York State legalize sports betting
in the wake of the Supreme Court's decision regarding the Professional
and Amateur Sports Protection Act, the effects of new laws and
regulations, the Company's ability to successfully execute on
opportunities that may arise in the sports betting arena; the ability to
meet and maintain compliance with legal and regulatory restrictions on
our business, including in relation to our advertising, customer
promotion and marketing activities; recognition of and loyalty to the
Resorts World brand; customer preference for competing hospitality and
gaming brands operating in our market; and other factors descried from
time to time in the Company’s filings with the Securities and Exchange
Commission. We caution you not to place undue reliance on any
forward-looking statements, which are made as of the date of this press
release. We undertake no obligation to update publicly any of these
forward-looking statements to reflect actual results, new information or
future events, changes in assumptions or changes in other factors
affecting forward-looking statements, except to the extent required by
applicable laws. If we update one or more forward-looking statements, no
inference should be drawn that we will make additional updates with
respect to those or other forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180515006079/en/
Source: Empire Resorts, Inc.
Empire Resorts, Inc.
Charles A. Degliomini, 845-807-0001
Executive
Vice President
cdegliomini@empireresorts.com
