This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Investors Bet on Empire Resorts Win

Updated from 11:08 a.m. EST

Shares of Empire Resorts (NYNY - Get Report) surged 15% Friday following a report that the federal government approved an environmental review of the company's Catskills casino project.

The company owns a harness racing track outside Monticello, N.Y., on which the St. Regis Mohawk Indian Tribe is looking to develop a $600 million casino project. Empire would build the casino. The current site already features 1,500 electric gambling machines, such as video poker.

The New York Times reported that James Cason, the associate deputy secretary for Indian affairs at the Interior Department, said that the agency determined the proposed casino would not have a significant environmental impact.

The approval would be a significant step forward for the project, which has been delayed amid political issues and opposition from rivals in Atlantic City, N.J.

Cason wasn't immediately available for comment Friday. Nedra Darling, an Interior Department spokeswoman, said a so-called Finding of No Significant Impact, or FONSI, has not been not signed yet.

"I think we're near the process to end and it be signed, but we're not there today," Darling said.

Empire Resorts indicated in a Securities & Exchange Commission filing Friday that it has not received notificication of a FONSI.

"In the event that Empire Resorts, Inc. receives notification that the Tribe has received a FONSI, it will report such information," the company said.

Empire shares recently were up $1.24 to $9.67. The stock earlier hit an intraday 52-week high of $10.20. The stock's previous 52-week high of $8.83 was reached in October; the shares traded at a 52-week low of $4.12 in March.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NYNY $16.55 0.36%
AAPL $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs