Empire Update on St. Regis Mohawk Casino
LAS VEGAS, NV, November 3, 2006. Empire Resorts, Inc. (NASDAQ: NYNY) announced that management is not aware of any news that could account for today's trading activity. The company and its partners, the St. Regis Mohawk Tribe, continue to await a decision from the Bureau of Indian Affairs (BIA) in regards to issuance of a Finding of No Significant Impact (FONSI) related to the planned St. Regis Mohawk casino at Monticello. The company believes the BIA is proceeding with the normal course of review and will notify the Tribe when it has determined whether a FONSI can be issued.
Empire operates the Monticello Raceway and is involved in the development of other legal gaming venues in New York. Empire opened Mighty M Gaming at the Raceway site on June 30, 2004. This facility features over 1,500 video gaming machines and amenities such as a 350-seat buffet and live entertainment. Empire is also working to develop a $500 million "Class III" Native American casino and resort on a site adjacent to the Raceway and other gaming and non-gaming resort projects in the Catskills region and other areas.
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