Empire Resorts Announces Approval of Enhanced Marketing Program for Monticello Casino & Raceway
August 06 2009 - 9:22AM
Business Wire
Empire Resorts, Inc. (NASDAQ: NYNY) announced today that the
company will significantly expand its use of “free play” credits
for players at Monticello Casino & Raceway. The credits can be
used by customers at the more than 1300 slot machines at the
Catskill-based casino. It is expected that this program will
substantially bolster its marketing program and competitive
position in response to the expansion of new casinos and aggressive
marketing programs in Pennsylvania.
Empire Resorts Executive Vice President Charles Degliomini said,
“The primary purpose of the enhanced free play marketing program is
to gain market share back from Pennsylvania casinos. Free play is a
potent marketing tool, along with other programs such as
advertising and promotion. Players will begin to see a much larger
use of coupons and credits to keep them coming back to Monticello.
Pennsylvania has a different legal and regulatory structure for its
casinos and these differences have given Pennsylvania casinos an
advantage in their use of free play.”
Monticello Casino & Raceway President and General Manager
Cliff Ehrlich concluded, “We look forward to rewarding our
customers with extra playing time and an improved gaming
experience. With our new management and marketing input from
Delaware North Companies, this enhanced marketing program will help
us level the playing field.”
As approved by the New York State Lottery, the free play program
will have an initial pilot period of 12 months, with a performance
evaluation after six months. Video Gaming in New York is regulated
by the New York Lottery, with individual facility operators earning
commissions based on revenues. In fiscal 2008-09, the New York
Lottery contributed $498.6 million from its Video Gaming business
to education in New York State.
About Empire Resorts, Inc.
Empire Resorts owns and operates Monticello Casino &
Raceway, a 230-acre harness racing and slot machine casino located
in Sullivan County, NY, 90 miles from midtown Manhattan. For
additional information, go to www.empireresorts.com
Statements in this press release regarding the company's
business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, including the
need for regulatory and contractual approvals, financing and
successful completion of construction. The company wishes to
caution readers not to place undue reliance on such forward-looking
statements, which statements are made pursuant to the Private
Securities Litigation Reform Act of 1994, and as such, speak only
as of the date made. To the extent the content of this press
release includes forward-looking statements, they involve various
risks and uncertainties including (i) the risk that the Company’s
agreement with Concord Associates is not closed; (ii) the risk that
financing necessary for the proposed project may not be able to be
obtained because of credit factors, market conditions or other
contingencies, (iii) the risk that regulatory or contractual
approvals are not obtained, (iv) the risk of non-compliance by
various counterparties of the related agreements, and (iv) general
risks affecting the company as described from time to time in it's
reports filed with the Securities and Exchange Commission. For a
full discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in the company's
Annual Report or Form 10-K for the most recently ended fiscal
year.
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