Empire Resorts supports St. Regis Mohawk project

LAS VEGAS, Nevada -- (PRESS RELEASE) -- Empire Resorts, Inc. (NASDAQ: NYNY) announced today that is aware of a press release issued by the Tribe on February 5, 2008 and wishes to confirm that it has not abandoned the St. Regis Mohawk casino project in Monticello and has no intention of doing so. Given the recent rejection of the Tribe's class III gaming project at the Monticello Raceway by the Secretary of Interior, the Company and the Tribe must now continue to work together on a joint litigation strategy to overturn the Secretary's unfair and unwarranted decision. Pending the outcome of this litigation, the Company, in furtherance of its fiduciary obligations to its stockholders, is exploring additional business proposals.

The Company and Concord Associates are currently in discussions with respect to the joint development of a 160 acre parcel in Kiamesha Lake, New York which may involve the relocation of the Company's raceway and VGM operations to that site. In the event that a transaction emerges the Company will make timely and appropriate disclosure.

The 29.31 acre proposed land into trust site at the Raceway will continue to be available to the Company for a future St. Regis Mohawk gaming project. The Company has no current alternative plans for this site.