Empire Resorts Receives Extension of Credit Facility from Bank of Scotland

Empire Resorts, Inc. (NASDAQ: NYNY) announced today that Bank of Scotland has agreed to an extension of the Company’s $10 million secured credit facility that matures today. As part of the extension agreement, the Company reduced the outstanding balance of the credit facility to $6.4 million. The extension runs through June 30, 2009. The Company has entered into a letter of intent with a lender to provide the commitment to acquire or refinance the credit facility.

About Empire Resorts

Empire Resorts owns and operates Monticello Casino & Raceway, a harness racing facility in Sullivan County with over 1,500 video gaming machines, as well as dining and other amenities. Empire Resorts is involved with Concord Associates, LLC in the proposed Concord Hotel & Resort, planned as a major gaming and destination resort in the Catskills. 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.