Empire Resorts, Inc. (NASDAQ: NYNY) and Delaware North Companies announced today that the Company is teaming up with Delaware North Companies under a multi-year management agreement that will provide strategic advisory, marketing, and management services for the Company’s gaming and racing operations at Monticello Casino & Raceway. This alliance with Delaware North is the latest move by Empire Resorts to restructure operations, improve profitability, and determine the maximum potential for its existing operations and assets at the 230-acre Raceway property. As part of the agreement, Delaware North may provide capital for strategic growth and capital investment opportunities.
“Delaware North is the ‘gold standard’ in racino operations,” said Empire Resorts Senior Vice President Charles Degliomini. “All of their facilities have been spectacular successes. We are confident that they will help Monticello Casino & Raceway move to the next level in terms of both customer appeal and overall profitability.”
William Bissett, President of Delaware North’s Gaming and Entertainment Group, added, “Monticello Casino & Raceway faces some unique competitive challenges, but has tremendous promise. We look forward to implementing changes that will help the Company realize its full potential as a premier gaming and entertainment destination in the Catskills.”
The two companies have executed a Letter of Intent under which Delaware North executives will conduct a comprehensive review of the Company’s operations, with the goal of increasing visitation, enhancing customer services, and increasing play at the facility. Monticello Raceway Management, Inc. is the Company’s gaming subsidiary and owner of the 230 acres that make up the Monticello Casino & Raceway property.
About Empire Resorts
Empire Resorts owns and operates Monticello Casino & Raceway, a harness racing facility in Sullivan County with over 1,500 video gaming machines, as well as dining and other amenities. It is involved with Concord Associates, LLC in the proposed Concord Hotel & Resort, planned as a major gaming and destination resort in the Catskills. www.empireresorts.com.
About Delaware North Companies Gaming & Entertainment
Delaware North Companies Gaming & Entertainment is one of the most innovative gaming and racing operators in the country, specializing in racing venues with added amenities, including video gaming machines, poker rooms, full service restaurants, retail shops and lodging. The company oversees more than 5,500 video gaming machines across the country and operates at seven successful racing and gaming operations in New York, Arizona, Florida, West Virginia, Arkansas and Latin America. To date, Delaware North Companies is one of only five operators of video gaming machines at racetrack locations in New York State. The company is owned by Delaware North Companies, a global leader in hospitality and one of the largest privately held companies in the world. www.DelawareNorth.com.
About Delaware North Companies
Delaware North Companies is one of the world’s leading hospitality and food service providers. Its family of companies includes Delaware North Companies Parks & Resorts, Delaware North Companies Gaming & Entertainment, Delaware North Companies Travel Hospitality Services, Delaware North Companies Sportservice, Delaware North Companies International and Delaware North Companies Boston, owner of TD Banknorth Garden. Delaware North Companies is one of the largest privately held companies in the United States with revenues exceeding $2 billion annually and 50,000 associates serving half a billion customers in the United States, Canada, the United Kingdom, Australia and New Zealand. For more information, visit www.DelawareNorth.com.