On December 31, 2009, the term of the employment agreement, dated June 1, 2009, between Joseph E. Bernstein and Empire Resorts Inc. will expire in accordance with its terms. As a result of the expiration of his employment agreement, Mr. Bernstein will cease to serve as the Chief Executive Officer of the Company. On December 24, 2009, the Board of Directors of the Company appointed Joseph A. D'Amato, the Company's current Chief Financial Officer, to replace Mr. Bernstein as Chief Executive Officer of the Company effective January 1, 2010.

Empire Resorts Inc. announced the reinstatement of a $4,400,000 secured credit facility with The Park Avenue Bank of New York and execution of a standstill agreement by the company with the principal beneficial owners of over 90% of the company's $65,000,000 Senior Notes. In addition, the company announced that notices of default and acceleration of the notes have been withdrawn. Reinstated credit facility under the terms of a loan modification agreement executed on October 9, 2009, by the company and the bank, the Bank has withdrawn its prior notice of default, agreed to extend the loan agreement to December 31, 2009, and further agreed to reduce the rate of interest from 15% to 8% per annum. In connection with the Amendment, the company retired $1,000,000 of the outstanding $4,400,000 principal balance of the facility.

Empire Resorts Inc. announced the reinstatement of a $4,400,000 secured credit facility with The Park Avenue Bank of New York ('Bank') and execution of a standstill agreement by the Company with the principal beneficial owners ('Holders') of over 90% of the Company's $65,000,000 Senior Notes ('Notes'). In addition, the Company announced that notices of default and acceleration of the Notes have been withdrawn. Reinstated Credit Facility Under the terms of a loan modification agreement ('Amendment') executed on October 9, 2009, by the Company and the Bank, the Bank has withdrawn its prior notice of default, agreed to extend the loan agreement to December 31, 2009, and further agreed to reduce the rate of interest from 15% to 8% per annum. In connection with the Amendment, the Company retired $1,000,000 of the outstanding $4,400,000 principal balance of the facility. The Company intends to retire the remaining $3,400,000 principal balance of the loan before the maturity date from proceeds derived from an additional investment in the Company by Kien Huat Realty III Ltd. ('Kien Huat'), pursuant to an Investment Agreement entered into by the Company and Kien Huat on August 19, 2009, at which time Kien Huat invested an initial $11,000,000 in the Company and agreed to invest an additional $44,000,000 upon stockholder approval and thereafter to provide a line of credit of up to $10,000,000 to replace the Bank's credit facility.

EMPIRE RESORTS INC Files SEC form 8-K, Other Events

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EMPIRE RESORTS INC Files SEC form 8-K, Financial Statements and Exhibits

EMPIRE RESORTS INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits

EMPIRE RESORTS INC Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits

Gambling Partnership Powers Gaming Laggard

Icahn's Casino Binge Continues

EMPIRE RESORTS INC Files SEC form 8-K, Financial Statements and Exhibits

Empire Resorts Stockholders Approve $44,000,000 Additional Investment by Kien Huat Realty III Limited

EMPIRE RESORTS INC Files SEC form 10-Q, Quarterly Report

Empire Resorts holders agree to Kien Huat deal

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