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Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
Empire Resorts, Inc.
Type
Public
Traded as NASDAQ: NYNY
Industry Gambling
Genre Gaming holding company
Founded 2003
Headquarters Monticello, Sullivan County, New York, United States
Key people
Emanuel Pearlman(Chairman), Joseph D'Amato (CEO), Laurette Pitts (CFO), Charles Degliomini (Executive Vice President) Nannette Horner (Chief Compliance Officer)
Products Monticello Raceway
Revenue IncreaseUS$ 752.9 Million
Owner Kien Huat Realty Sdn Bhd, Genting Group (88.7%)
Number of employees
311
Parent Kient Huat Realty Sdn Bhd & Genting Group
Subsidiaries MRMI
Website http://empireresorts.com

Empire Resorts is a company that owns the Monticello Raceway racino in the Catskill Mountains 90 miles (140 km) from New York City. Headquartered in Monticello, New York, Empire Resorts is 88.7% owned by Kien Huat Realty Sdn Bhd of Genting Group.

Empire Resorts is currently developing the five-star Montreign Casino at Adelaar, a $1.5 billion USD 1700 acre resort currently under construction on the site of the former Concord Resort Hotel in New York State’s Catskill Mountains.

Empire Resorts was founded in 2003 through a Consolidation (business) of Alpha Hospitality and Catskill Development LLC, a company that had purchased the Monticello Raceway in 1996. The consolidation was carried out by Robert A. Berman who in the previous year had been offered control as CEO of Alpha Hospitality by Stanley Tollman.

In 2003 Robert A. Berman restructured Alpha Hospitality after principal shareholders from the Bryanston Group (Alpha Hopitality’s controlling shareholder) were indicted by US attorney James Comey in the southern district of New York on tax-related charges. Berman restored financial stability by selling off non-essential gaming assets and merging the company with Catskill Development LLC, which led to the creation of Empire Resorts that same year. During this time Berman also arranged for Empire Resorts to sell common stock through Jefferies Group. This resulted in Empire Resorts receiving over $35 million (USD) in new funding.

In 2003 Empire Resorts became a NASDAQ Global Market company. The company's stock traded under the ticker symbol "NYNY." In 2004 Empire Resorts entered into an agreement to purchase the Concord Resort Hotel from Louis R. Cappelli. The transaction was later modified by Kien Huat Realty, which gave way to the $1.5 billion (USD) resort project currently financed and under construction by Empire Resorts. The project will be located on the site of Adelaar, a resort developed by Entertainment Property Trust (EPR) within the Concord Resort Hotel. The entertainment complex will include an 80,000 sq. ft. casino, multiple hotel properties, waterparks, and a retail village, dining and entertainment areas. The project is expected to be concluded by 2018.

In 2009 Kien Huat Realty invested a further $55 million (USD) in new equity capital, which represented just below 50% of the voting power of the Empire Resorts. Kien Huat constitutes an investment branch of the Genting Group, a large leisure and gambling conglomerate founded by Malaysian entrepreneur Lim Goh Tong. Kien Huat, which had previously financed the startup of Foxwoods Resort Casino and the Seneca Niagara Casino & Hotel in New York, was fronted by CEO Lim Kok Thay (Lim Goh Tong’s son).

In 2010 the Genting Group won a bid to build a racino similar to what it owned in Monticello at Aqueduct Racetrack in New York City. In December 2015, Empire Resorts received a full gaming license for Montreign Resort Casino in New York. On February 2016, Kien Huat Realty purchased $290m (USD) worth of shares, giving the firm 88.7% ownership of Empire Resorts.

Empire Resorts, Inc. currently owns and manages several subsidiaries in the hospitality and gaming industries. The company owns and operates Monticello Raceway and casino in New York through its subsidiary, Monticello Raceway Management, Inc. The 230-acre (93 ha) property is located approximately 90 miles northwest of New York City. Casino and Raceway includes a gaming and entertainment complex that operate over 1,110 VGMs, with over 40 electronic table game positions (ETGs), over 1,000 video lottery terminal (VLT) slot machines, electronic table games, and one of the largest all-weather harness horse racing tracks in the US.

Investment goal date:
Dividends reinvested
Empire Resorts, Inc. NYNY report Q2 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q4 2017
2018-02-01
--
--
Q3 2017
2017-11-02
--
--
Q2 2017
2017-08-01
0.0000
-0.3900
Q1 2017
2017-05-04
0.0000
-0.3700
Q4 2016
2017-03-13
0.0000
-0.1900
Q3 2016
2016-11-04
0.0000
-0.1800
Q2 2016
2016-08-02
0.0000
-0.2300
Q1 2016
2016-05-04
0.0000
-0.2600
Q4 2015
2016-03-10
0.0000
-0.7800
Q3 2015
2015-11-09
0.0000
-1.4000
Q2 2015
2015-08-05
0.0000
-0.8000
Q1 2015
2015-05-06
0.0000
-0.4500
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
Bank of New York Mellon Corp
10926
BlackRock Fund Advisors
112219
BlackRock Inc.
255286
BlackRock Institutional Trust Company, N.A.
131904
BlackRock Investment Management, LLC
12670
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM
6688
GEODE CAPITAL MANAGEMENT, LLC
34577
MORGAN STANLEY
9880
NEW YORK STATE COMMON RETIREMENT FUND
2801
NORTHERN TRUST CORP
34002
RAYMOND JAMES & ASSOCIATES
42330
STATE STREET CORP
76464
TEACHERS ADVISORS INC
4225
TIAA CREF INVESTMENT MANAGEMENT LLC
10908
Vanguard Group, Inc
45957
Major Shareholders
Name Relationship
Total Shares
Holding stocks
DEBARY PAUL
0.2400% (92913)
NYNY /
BERNSTEIN RALPH J
5.6700% (2231243)
AIRM / NYNY /
PEARLMAN EMANUEL R
0.4300% (168773)
MYCC / NTIP / NYNY /
SIMON JAMES
0.2200% (86875)
NYNY /
Ehrlich Clifford
0.0300% (10000)
NYNY /
Degliomini Charles
0.0300% (10526)
NYNY /
CAPPELLI LOUIS
13.2500% (5215644)
NYNY /
Palumbo Nancy
0.0500% (21372)
NYNY /
Palumbo Nancy
0.1600% (63706)
NYNY /
Au Fook Yew
0.0900% (36667)
NYNY /
Brown Gerard Michael
0.0300% (10000)
NYNY /
Kien Huat Realty III Ltd
69.9300% (27533067)
NYNY /
D AMATO JOSEPH A
0.1100% (44807)
NYNY /
Horner Nanette L.
0.0400% (14691)
NYNY /
Pitts Laurette
0.0300% (11000)
NYNY /
Polle Gregg
0.0500% (21176)
NYNY /
Polle Gregg
0.1600% (62870)
NYNY /
Marinucci Edmund
0.0200% (6622)
NYNY /
Marinucci Edmund
0.0300% (10622)
NYNY /
Horn Keith
0.0100% (2250)
NYNY /
Horn Keith
0.0200% (9250)
NYNY /
Eller Ryan M
0.0500% (20000)
NYNY /
% ()