Empire Resorts Provides Update on St. Regis Mohawk Casino

  
    
  
  
    
      Empire Resorts, Inc. (NASDAQ: NYNY) announced that management is not 
      aware of any news that could account for today’s 
      trading activity. The company and its partners, the St. Regis Mohawk 
      Tribe, continue to await a decision from the Bureau of India Affairs 
      (BIA) in regards to issuance of a Finding of No Significant Impact 
      (FONSI) related to the planned St. Regis Mohawk casino at Monticello. 
      The company believes the BIA is proceeding with the normal course of 
      review and will notify the Tribe when it has determined whether a FONSI 
      can be issued.
    
    
      About Empire Resorts, Inc.
    
    
      Empire operates the Monticello Raceway and is involved in the 
      development of other legal gaming venues in New York. Empire opened 
      Mighty M Gaming at the Raceway site on June 30, 2004. This facility 
      features over 1,500 video gaming machines and amenities such as a 
      350-seat buffet and live entertainment. Empire is also working to 
      develop a $500 million "Class III" Native American casino and resort on 
      a site adjacent to the Raceway and other gaming and non-gaming resort 
      projects in the Catskills region and other areas.
    
    
      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 various approvals 
      necessary as described herein and other approvals required to be 
      obtained from the United States Congress, the Bureau of Indian Affairs, 
      the National Indian Gaming Regulatory Commission, the Governor of the 
      State of New York and various other federal, State and local 
      governmental entities are not received, (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 that sovereign Native American governments 
      may exercise certain broad rights with regard to termination of its 
      agreements with the company (iv) the risk of non-compliance by various 
      counterparties of the related agreements, and (v) 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.
    
  
Empire Resorts, Inc. (NASDAQ: NYNY) announced that management is
not aware of any news that could account for today's trading activity.
The company and its partners, the St. Regis Mohawk Tribe, continue to
await a decision from the Bureau of India Affairs (BIA) in regards to
issuance of a Finding of No Significant Impact (FONSI) related to the
planned St. Regis Mohawk casino at Monticello. The company believes
the BIA is proceeding with the normal course of review and will notify
the Tribe when it has determined whether a FONSI can be issued.

   About Empire Resorts, Inc.

   Empire operates the Monticello Raceway and is involved in the
development of other legal gaming venues in New York. Empire opened
Mighty M Gaming at the Raceway site on June 30, 2004. This facility
features over 1,500 video gaming machines and amenities such as a
350-seat buffet and live entertainment. Empire is also working to
develop a $500 million "Class III" Native American casino and resort
on a site adjacent to the Raceway and other gaming and non-gaming
resort projects in the Catskills region and other areas.

   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 various
approvals necessary as described herein and other approvals required
to be obtained from the United States Congress, the Bureau of Indian
Affairs, the National Indian Gaming Regulatory Commission, the
Governor of the State of New York and various other federal, State and
local governmental entities are not received, (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 that sovereign Native American
governments may exercise certain broad rights with regard to
termination of its agreements with the company (iv) the risk of
non-compliance by various counterparties of the related agreements,
and (v) 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.