Empire Resorts, Inc.’s Subsidiary Submits $51 Million Gaming Facility License Fee for Montreign Resort Casino

On March 30, 2016, Montreign Operating Company, LLC (“Montreign”), a wholly-owned subsidiary of Empire Resorts Inc. (NASDAQ-GM:NYNY) (“Empire” and, together with its subsidiaries the “Company”), submitted payment for its gaming facility license in the amount of $51 million to the New York State Gaming Commission (“NYSGC”).

Previously the Company had deposited a bond with NYSGC representing 10% of the proposed capital investment for the project. The gaming facility license is subject to various conditions that are set forth in filings made by the Company with the Securities and Exchange Commission, including the payment of the license fee of $51 million.

Read full story

Posted in Uncategorized.