UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
June 24,
2008
|
|
|
(Exact
name of registrant as specified in its charter)
|
|
|
|
|
|
|
|
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
|
|
|
|
701
N. Green Valley Parkway, Suite 200, Henderson, NV
|
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code:
(702)
990-3355
|
|
|
(Former
name or former address, if changed since last
report.)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General
Instruction A.2. below):
¨
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Empire
Resorts, Inc., a Delaware corporation, hereby amends and restates the disclosure
contained under Item 8.01 in its Current Report on Form 8-K filed with the
Securities and Exchange Commission on June 25, 2008 as follows:
Item
8.01.
Other
Events
.
On June
23, 2008, the New York State Senate, and on June 24, 2008, the New York State
Assembly passed legislation that will improve the effective tax rate with
respect to video gaming machine (“VGM”) operations available to Empire Resorts,
Inc. (the “Company”) upon the relocation of Monticello Gaming and Raceway to the
site of the former Concord Resort. The legislation provides, among
other things, for a significant reduction on the tax rate on VGM operations
subject to the project meeting certain economic benchmarks including the
investment of at least one billion dollars, the creation of two thousand
permanent jobs and an increase in the current contribution to state education
from VGM operations. If such benchmarks are met, the tax rate on VGM
operations for the new facility will be the greater of (i) twenty-five percent
of total revenues after payouts for prizes for VGMs or (ii) for the first eight
years of operation thirty-eight million dollars, and beginning in the ninth year
of operation such amount shall increase annually by the lesser of the increase
in the consumer price index or two percent plus New York State shall retain an
amount equal to all actual expenses related to
operations, administration and procurement of VGM
operations, provided, however, such amount retained by New York State
shall not exceed seven
percent of total revenue after
payout of prizes..
On June
25, 2008, the Company issued a press release announcing the New York State
Legislature’s approval of the legislation to improve the VGM tax structure upon
the relocation of Monticello Gaming and Raceway. A copy of the press release is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
EMPIRE
RESORTS, INC.
|
|
|
|
|
|
|
|
Dated:
June 27, 2008
|
By:
|
/s/
Ronald J. Radcliffe
|
|
|
Name:
Ronald J. Radcliffe
|
|
|
Title:
Chief Financial Officer
|
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
