The project is located on the site of Adelaar, a resort developed by Entertainment Properties Trust within the Concord Resort Hotel. The transaction was later modified by Kien Huat Realty, which gave way to the $1.5 billion resort project currently financed and under construction by Empire Resorts. In 2003 Empire Resorts became a NASDAQ Global Market company, trading under the ticker symbol 'NYNY.' In 2004 Empire Resorts entered into an agreement to purchase the Concord Resort Hotel from Louis R. This resulted in Empire Resorts receiving over $35 million in new funding. During this time Berman also arranged for Empire Resorts to sell common stock through Jefferies Group. 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. In 2003, Berman restructured Alpha Hospitality after principal shareholders of the Bryanston Group (Alpha Hopitality's controlling shareholder) were indicted on tax-related charges. Berman, who in the previous year had been offered control as CEO of Alpha Hospitality by Stanley Tollman. The consolidation was carried out by Robert A.

Headquartered in Monticello, New York, Empire Resorts is owned by affiliates of the Genting Group (with a 51% stake held by Kien Huat Realty and 49% by Genting Malaysia).Įmpire Resorts was founded in 2003 through a consolidation of Alpha Hospitality and Catskill Development LLC, a company that had purchased the Monticello Raceway in 1996. Empire Resorts is a gaming company that owns and operates Resorts World Catskills and Monticello Raceway in the Catskill Mountains, 90 miles (140 km) from New York City.

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