Empire Resorts Relocates Headquarters
Implements Cost Cutting Program
APRIL 15, 2009 - Empire Resorts, Inc (NASDAQ: NYNY) today announced that it continues to implement its cost cutting program and is relocating its Las Vegas, NV headquarters to New York. The company also announced its Board of Directors has accepted the resignation of its President, CEO and Director David P. Hanlon, effective immediately. Chief Financial Officer Ronald Radcliffe has also tendered his resignation, effective June 30, 2009.
With the relocation of its Las Vegas headquarters, Mr. Hanlon and Mr. Radcliffe's resignations, and the implementation of other cost-cutting measures the company expects to realize several million dollars a year as a result of significant savings in corporate payroll and other operational overhead. The Empire Resorts Board of Directors thanked Mr. Hanlon and Mr. Radcliffe for their tenures as CEO and CFO and wished them well in their future endeavors.
The company will be led by a special committee of the Board and Eric Reehl, its Chief Restructuring Officer, as it implements changes to maximize revenue and stakeholder value. The Board plans to explore a full range of options as it considers Mr. Hanlon's and Radcliff's successors.
Empire Resorts operates the Monticello Gaming & Raceway and is involved in the development of another gaming resort project in the Catskills.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
