Agreement allows
Montreign Operating Company to leverage the global gaming and
hospitality brand to market its resort casino property
Montreign Operating Company, LLC (“MOC”), an indirect,
wholly-owned subsidiary of Empire Resorts, Inc. (NASDAQ-GM:NYNY)
(“Empire” and, together with its subsidiaries, the “Company”),
today announced it has entered into a license agreement to rebrand
Montreign Resort Casino a Resorts World property. The resort casino
MOC is developing part of a $1.2 billion four-season destination
resort under construction in the Town of Thompson in Sullivan
County, New York. The resort casino, which is designed to meet
5-star and 5-diamond standards, is expected to include an 18-story
hotel, a casino floor exceeding 100,000 square feet, which will
include a designated VIP/high limit area, and 27,000 square feet of
multi-purpose meeting and entertainment space. MOC will continue to
operate the resort casino, with the casino scheduled to open to the
public in March 2018.
The license agreement grants MOC the right to use the “Resorts
World” and “Genting” brand names, marks and logos in connection
with the marketing, sales, management and operation of its resort
casino, as well as the entertainment village and golf course that
subsidiaries of MOC are developing at the resort property. This
will enable MOC to leverage the internationally-recognized Resorts
World hospitality and casino brand with properties located around
the world, including integrated destination resorts located in
Kuala Lumpur, Malaysia; Singapore; Bimini, Bahamas; Manila,
Philippines; Birmingham, England; New York City, New York; and the
newest property currently under construction in Las Vegas,
Nevada.
“We are excited to be able to associate our property with the
prestigious Resorts World brand established by the leaders of the
Genting Group, a multi-national conglomerate that includes a global
destination-resort operator with a reputation for being a premier
provider of leisure and entertainment services,’’ said Empire’s
Executive Chairman of the Board Emanuel Pearlman. “We believe
branding our resort casino a Resorts World property will
significantly enhance our ability to market the facility and
attract visitors, which will provide regional, national and
international exposure for Sullivan County and the Catskills
region.”
“The Resorts World brand is proudly featured on integrated,
destination resorts around the world from the United Kingdom to
Singapore. By branding the Company’s resort casino a Resorts
World property, the Company will be able to reach a market of
existing Resorts World customers worldwide,” said Lim Chee Heong,
Chief Operating Officer of Resorts World Inc Pte Ltd, a joint
venture company of Genting Berhad. “We are proud to have the brand
featured on the only integrated resort casino in New York
State.”
About Empire Resorts
The Company was awarded a gaming facility license by the New
York State Gaming Commission to develop and operate a resort casino
to be located at the site of a four-season destination resort being
developed in the Town of Thompson in Sullivan County, approximately
90 miles from New York City. The Company is the sole holder of a
gaming facility license in the Hudson Valley-Catskills Area, which
consists of Columbia, Delaware, Dutchess, Greene, Orange, Sullivan
and Ulster counties in New York State.
The Resorts World-branded resort casino will include an 18-story
casino, hotel and entertainment complex with 130 table games, 2,150
state of the art slot machines, a poker room and private gaming
salons. Guest amenities will include 332 all-suite luxury rooms,
which include 12 penthouse suites, 8 garden suites and 7 two-story
villas, two indoor pools, a spa and fitness center -- all designed
to meet 5-star and 5-diamond standards. Guests will be able to
choose from over 10 varied bar and restaurant experiences,
including fine dining, and an Italian steakhouse created by
celebrity chef Scott Conant. Guest can also enjoy year-round live
entertainment at the over 2,000-seat event center, casino bar,
restaurants and lounges.
The Company also owns and operates Monticello Casino and
Raceway, a 45,000-square foot video gaming machine and harness
horseracing facility located in Monticello, New York, approximately
90 miles northwest of New York City.
Further information about the Company is available at
www.empireresorts.com and www.monticellocasinoandraceway.com.
Cautionary Statement Regarding Forward Looking
Information
This press release includes "forward-looking statements"
intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. These
statements include statements about our plans, strategies,
financial performance, prospects or future events and involve known
and unknown risks that are difficult to predict. As a result, our
actual results, performance or achievements may differ materially
from those expressed or implied by these forward-looking
statements. In some cases, you can identify forward-looking
statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered reasonable by the Company and our management
team, are inherently uncertain. Factors that may cause actual
results to differ materially from current expectations include,
among others, levels of spending in business and leisure segments
as well as consumer confidence; changes in the competitive
environment in the gaming industry and the markets where we
operate; whether the Company is judged to have met the hospitality
standards necessary to be awarded a 5-diamond rating by the
American Automobile Association or a 5-star rating by the Forbes
Travel Guide; the ability to meet and maintain compliance with
legal and regulatory restrictions on our business, including in
relation to our advertising, customer promotion and marketing
activities; recognition of and loyalty to the Resorts World and
Genting brands; customer preference for competing hospitality and
gaming brands operating in our market; the effectiveness of
marketing and promotional activity based on the Resorts World and
Genting brands; our ability to adapt to a rapidly changing media
environment; our ability to leverage the Resorts World and Genting
brands to attract visitors in our market; adverse publicity
relating to the Resorts World or Genting brands; whether we execute
definitive agreements to join the Genting Rewards customer loyalty
alliance; and the Genting Group’s continued investment to maintain,
extend and expand the image of the Resorts World and Genting brands
through marketing initiatives, including advertising and consumer
promotions, and product innovation, over which we have no control.
A more complete description of these risks and uncertainties can be
found in our filings with the U.S. Securities and Exchange
Commission. We caution you not to place undue reliance on any
forward-looking statements, which are made as of the date of this
press release. We undertake no obligation to update publicly any of
these forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable laws. If we update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170406005552/en/
Empire Resorts, Inc.Charles A. Degliomini,
845-807-0001cdegliomini@empireresorts.com
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