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Empire Resorts Announces Receipt Of $35 Million Loan Company Repays All Obligations Under Its Outstanding Convertible Senior Notes

Empire Resorts CEO Joseph D’Amato added, “The restructuring of our indebtedness is an important milestone for Empire Resorts. As a result of this transaction, the company has over $7 million in working capital. We look forward to focusing on the completion of our rights offering which will further enhance the company’s financial position. We are optimistic that resolving these financing matters will allow Empire Resorts to focus on our ongoing efforts to enhance shareholder value.”

This news release shall not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Empire Resorts

Empire Resorts owns and operates the Monticello Casino & Raceway, a harness racing track and casino located in Monticello, New York, and 90 miles from midtown Manhattan. For additional information, please visit www.empireresorts.com.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release regarding the Company’s business that are not historical facts are “forward-looking statements” that may involve material risks and uncertainties. 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. For a full discussion of 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 on Form 10-K for the most recently ended fiscal year, as amended, as well as the Company’s Quarterly Report on Form 10-Q for the most recently ended fiscal quarter.

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