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

Empire Resorts Tumbles on Increased Volume

MONTICELLO, N.Y. ( TheStreet) -- Empire Resorts (NYNY - Get Report) 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.

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 $4.20 0.00%
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs