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Stock Market & Financial Investment News

News Breaks
April 2, 2014
08:33 EDTNYNYEmpire Resorts announces commencement of rights offering
Empire Resorts announced that it has commenced a rights offering for approximate gross proceeds of $15,390,000. Empire has granted, at no charge to the holders of record of its common stock and Series B Preferred Stock on March 31, the record date for the rights offering, one non-transferable subscription right for each 15 shares of common stock owned, or into which the Series B Preferred Stock is convertible, as more fully described in the prospectus supplement relating to the rights offering. Each subscription right will entitle the holder to purchase one share of common stock at a subscription price of $6.25 per share. In addition, holders of subscription rights who fully exercise their basic subscription rights are entitled to oversubscribe for additional shares of common stock up to the number of shares purchased pursuant to the exercise of their basic subscription rights. The subscription offering is expected to expire on April 30, subject to extension or earlier termination. The company will not issue subscription rights to acquire fractional shares of its common stock but rather will round down the aggregate number of shares for which shareholders may subscribe to the nearest whole share. Shareholders who hold their shares directly will receive a prospectus, together with a letter from the company describing the rights offering, a subscription rights certificate and an IRS Form W-9.
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October 7, 2014
08:06 EDTNYNYEmpire Resorts says MCR becomes NY's first 18 and over gaming facility
Empire Resorts announced that it will no longer permit individuals under the age of 18 years of age to enter Monticello Casino & Raceway. With the authorization from the New York State Gaming Commission, in an effort to prevent underage gambling at MCR, beginning October 10, 2014, Empire will implement a new policy that requires individuals to be 18 years of age or older to enter and remain in MCR. Prior to the implementation of this new policy, underage individuals, with adult supervision, were permitted in certain non-gaming areas of MCR. The purpose of this new policy is to serve as a deterrent to adults who are tempted to permit their underage children to join them on the gaming floor, as well as to remove the temptation of unauthorized gambling by youth who may attempt to sneak on the gaming floor and who are too young to recognize the risks associated with underage gambling.

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