Monticello, NY – Empire Resorts Submits $1 Billion Casino Proposal For The Town Of Thompson

Monticello, NY – Empire Resorts, Inc., through a wholly-owned subsidiary, Montreign Operating Company, LLC, has submitted its application to the New York State Gaming Facility Location Board for a casino to be located 90 miles from New York City in the Town of Thompson, in Sullivan County, NY.

The casino resort will be called “Montreign Resort Casino” and will be located at the site of Adelaar, which is owned by EPR Properties. A complete branding initiative around the Montreign Resort Casino will be unveiled in the coming weeks.

The total combined investment in the Montreign Resort Casino and Adelaar is expected to be in excess of $1 billion, which includes $630 million from Empire and additional EPR financing investments for a waterpark hotel and adventure park, Rees Jones redesigned “Monster” Golf Course and retail, restaurant, shopping and entertainment properties.

The project has in place essentially all of its approvals and permits to commence construction immediately upon the awarding of a destination gaming facility license.

To support its application, Empire has obtained commitments to provide financing from Credit Suisse AG and Kien Huat Realty III, Limited (“Kien Huat”), Empire’s largest stockholder.

“After years of planning and community engagement, we believe our Montreign Resort Casino, and the non-gaming resort attractions that encompass the overall Adelaar master plan, is exactly the type of tourism driven development envisioned by the Upstate New York Gaming Economic Development Act,” said Emanuel Pearlman, Chairman of the Board of Empire. “Importantly, given a process that permits either one or two casino licenses in our region, Empire has the advantage of committed financing in place, no matter the competitive environment. We are confident that if selected, our best proposal can fully rejuvenate Sullivan County and the entire Hudson Valley economy.”