Empire Resorts reports board change
LAS VEGAS, Nevada -- (PRESS RELEASE) -- Empire Resorts, Inc. (NASDAQ: NYNY) today announced that, effective June 22, 2007, Joseph Bernstein has tendered his resignation as a director of the Company. This follows a June 21, 2007 determination by the St. Regis Mohawk Tribal Court approving an assignment to the Trust of a $1.787 billion class action judgment, entered in March 2001, against Park Place Entertainment Corporation - the predecessor to Harrah's Operating Company, Inc., a unit of Harrah's Entertainment, Inc. (NYSE: HET).
Mr. Bernstein believes that, had he remained on the Board of the Company, he potentially may not be disinterested in connection with matters between the Company and the St. Regis Mohawk Tribe.
At the same time, Paul deBary, a director of the Company, has resigned as Co-Trustee of the Trust and been replaced by Dennis Vacco, formerly Attorney General of the State of New York and U.S. Attorney for the Western District of New York.
"Joe's years of dedication to Empire Resorts have been invaluable in getting the company to where it stands today," said David Hanlon, CEO of Empire Resorts. "We completely understand and respect his decision. At the same time, the Company will immediately begin looking for a suitable replacement. Joe will no doubt continue to make a positive impact to the Catskills for many years to come, and we wish him well in all future endeavors."
