Empire Resorts Receives Extension of Credit Facility
JUNE 1, 2009 - Empire Resorts, Inc. (NASDAQ: NYNY) announced today that Bank of Scotland has agreed to an extension of the Company's $10 million secured credit facility that matures today. As part of the extension agreement, the Company reduced the outstanding balance of the credit facility to $6.4 million. The extension runs through June 30, 2009. The Company has entered into a letter of intent with a lender to provide the commitment to acquire or refinance the credit facility.
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. Empire Resorts 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
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