Empire Resorts, Inc. Adopts Stockholder Rights Plan

  
    
  
  
    
      Empire Resorts, Inc. (NASDAQ: NYNY) today announced that on March 24, 
      2008, its Board of Directors adopted a Stockholder Rights Plan. Under 
      the plan, Rights will be distributed as a dividend at the rate of one 
      Right for each share of Empire common stock, par value $.01 per share, 
      held by stockholders of record as of the close of business on April 3, 
      2008.
    
    
      The Rights Plan is designed to deter coercive takeover tactics, 
      including the accumulation of shares in the open market or through 
      private transactions and to prevent an acquirer from gaining control of 
      Empire without offering a fair and adequate price and terms to all of 
      Empire’s stockholders. The Rights will expire 
      on March 24, 2010.
    
    
      Each Right initially will entitle stockholders to buy one unit of a 
      share of a series of preferred stock for $20.00. The Rights generally 
      will be exercisable only if a person or group acquires beneficial 
      ownership of 20 percent or more of Empire common stock or commences a 
      tender or exchange offer upon consummation of which such person or group 
      would beneficially own 20 percent or more of Empire's common stock.
    
    
      A copy of the Stockholder Rights Plan will be filed shortly with the 
      Securities and Exchange Commission.
    
    
      About Empire Resorts, Inc.
    
    
      Empire Resorts operates the Monticello Gaming & Raceway and is involved 
      in the development of other gaming and non-gaming resort projects in the 
      Catskills. Additional information can be found at www.empiresorts.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 
      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 
      proposed joint venture with Concord Associates is not completed or the 
      Company is not able to develop a Class II or Class III casino; (ii) the 
      risk that financing necessary for the proposed programs or projects may 
      not be able to be obtained because of credit factors, market conditions 
      or other contingencies, (iii) 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 its' 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.