St. Regis Mohawk Tribe Reaches Accord with Sullivan County

LAS VEGAS, Nevada -- (PRESS RELEASE) -- Empire Resorts, Inc. ("Empire") (NASDAQ: NYNY) today announced that on Thursday, June 15, 2006, the Sullivan County Legislature passed a resolution approving a local mitigation agreement between the County and the St. Regis Mohawk Tribe in regards to a casino at Monticello Raceway. This agreement stipulates that the tribe will make annual payments of $15 million dollars to the County to mitigate any potential impact of the proposed Class III casino.

Sam Wohl, Sullivan County Legislator and Chair of the Sullivan County Industrial Development Agency, stated, "The St. Regis Mohawks will become a big player in our local economy. The positive economic spin-off from this casino will translate into new job opportunities for our residents, increased local commerce and a jump-start to our tourism industry."

David P. Hanlon, Empire's President and CEO, commented, "We are pleased to see the County reach agreement with our partners, the St. Regis Mohawk Tribe. We believe there will be many substantial benefits to Sullivan County and the surrounding community from a casino and look forward to working with the local leadership to make this dream a reality."