This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Empire Resorts Tumbles on Increased Volume

MONTICELLO, N.Y. ( TheStreet) -- Empire Resorts (NYNY) shares tumbled Monday on above-average volume after the St. Regis Mohawk Tribe voted against pursuing off-reservation gaming in New York.

Empire Resorts disclosed in a regulatory filing that on Nov. 21, tribe members voted 178-140 against continuing with an off-reservation gaming project. If off-reservation gaming had been approved, the next hurdle would have been the reversal of the so-called Kempthorne Policy, which, under the Bush Administration, prohibited the St. Regis Mohawk Tribe from building an off-reservation casino in Sullivan County.

In a separate vote, tribe members decided to not proceed with the purchase of the Burning Sky building and real estate, which carried a $250,000 price tag. The Burning Sky building is the premises where a locally-owned office supply company by the same name previously operated their business, Empire said.

Shares of Empire Resorts were falling by 45 cents, or 15%, to $2.56. Earlier in the session, the stock touched an intraday low of $2.36. More than 398,000 shares changed hands by 11:30 a.m. EST Monday, compared to the stock's 50-day average daily volume of 191,000, according to the Nasdaq.

Empire Resorts has a 30.6 million-share float with a short interest float of 1.1% as of Oct. 30, according to Yahoo! Finance. Insiders hold 45.8% of the company's shares, with another 8.4% owned by institutions.

-- Written by Robert Holmes in New York.

Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of on Facebook.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs