Empire Resorts, Inc. (NasdaqGM:NYNY) (the “Company”) announced that it is effecting a 1-for-5 reverse stock split of its common stock which will be effective for trading purposes as of the commencement of trading on December 23, 2015. As of that date, each 5 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock and equivalents. In addition, at the market open on December 23, 2015, the common stock will trade under a new CUSIP number 292052305 although the Company’s ticker symbol, NYNY, will remain unchanged. The reverse stock split was approved by the Company’s shareholders by written consent on October 5, 2015 and the specific ratio was subsequently determined at a meeting of the Company’s board of directors on December 7, 2015.

The reverse stock split is being implemented in preparation for a rights offering the Company may launch in the event the Company is awarded a gaming facility license with respect to the proposed Montreign Resort Casino development planned for Sullivan County, New York. The number of outstanding common shares will be reduced from approximately 47.792 million to approximately 9.550 million. The number of authorized shares and the par value per share will remain unchanged. Each holder who otherwise would have been entitled to receive a fractional share as a result of the reverse stock split shall receive an additional share of common stock. No fractional shares will be issued as a result of the reverse split but rather will be rounded up to the nearest whole share. Stockholders will receive instructions from the Company’s transfer agent, Continental Stock Transfer and Trust Company (“Continental”), as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.

Continental will act as the Company’s exchange agent for the reverse stock split. Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers’ particular processes, and will not be required to take any action in connection with the reverse stock split. For those stockholders holding physical stock certificates, Continental will send instructions for exchanging those certificates for shares held electronically in book-entry form or for new certificates, in either case representing the post-split number of shares.

Additional information about the reverse stock split can be found in the Company's definitive information statement filed on Schedule 14C with the Securities and Exchange Commission on October 14, 2015, a copy of which is available at www.sec.gov.

About Empire Resorts

Empire Resorts, Inc. owns and operates, through its subsidiary Monticello Raceway Management, Inc., the Monticello Casino and Raceway, a harness racing track and casino in Monticello, N.Y., and is 90 miles from midtown Manhattan. For additional information, please visit www.empireresorts.com.

Upon the effective date of a gaming facility license from the New York State Gaming Commission, Empire will begin construction on Montreign – an 18-story casino, hotel and entertainment complex with approximately 102 table games, 2,150 state of the art slot machines and 332 luxury rooms, which includes 12 penthouse suites, 8 garden suites and 7 two-story villas, designed to meet 5-star and 5-diamond standards. For additional information, please visit www.montreign.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, 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; plans for signing and closing on definitive transaction documents; the construction commencement date for Montreign Resort Casino; the financial condition of, and our relationships with, third-party property owners and hospitality venture partners; the timing of the receipt of regulatory and governmental approvals for the development project, including the award of a gaming facility license to us; changes in federal, state or local tax law; general volatility of the capital markets and our ability to access the capital markets to consummate the necessary financing. 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.

Empire Resorts, Inc.Charles Degliomini, 845-807-0001Executive Vice Presidentcdegliomini@empireresort.com

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