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.