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/MRMI Signs A Labor Peace Agreement With The New York Hotel And Motel Trades Council

Stocks in this article: NYNY

Empire Resorts, Inc.’s (“Empire”) (NASDAQ-GM: NYNY) wholly owned subsidiary, Monticello Raceway Management, Inc. (“MRMI”), and the New York Hotel and Motel Trades Council (“NYHMTC”), the union that represents approximately 100 workers at the Monticello Casino and Raceway, today announced a Labor Peace Agreement (“LPA”) for MRMI’s proposed racetrack, casino and hotel at the site of the former Concord Resort. The parties also announced a new five year Collective Bargaining Agreement (“CBA”) for NYHMTC members employed by MRMI, which includes annual salary increases, sets wages for new hires and addresses employee contributions toward health benefits.

“These agreements are great for existing workers and the entire community,” said Peter Ward, President of NYHMTC. “Empire is not only a strong union partner, but a strong community partner, committed to creating good jobs in a region that desperately needs them. We look forward to supporting them as they seek to create even more good union jobs at the new facility.”

Empire’s CEO Joseph D’Amato said, “We look forward to continuing our good working relationship with strong partners like Peter Ward and the NYHMTC at our current facility. We are simultaneously moving forward with our development plans at the site of the former Concord Resort. In conjunction with Entertainment Properties Trust (NYSE: EPR), this planned family and entertainment destination will create transformative job opportunities for residents of Sullivan County and the Catskills region.”

Empire/MRMI and Entertainment Properties Trust have presented a comprehensive master development plan for 1,500 acres at the site of the former Concord Resort, conceived by the industry-leading architect and master planning firm Hart Howerton. Bringing new energy to a region with rich history, the planned destination resort is expected to include a casino, hotel and harness racetrack (designed by JCJ Architecture, a nationally recognized casino architectural firm), specialty lodging, and championship golf experience, complimented by retail, dining, entertainment and recreational uses, and new residential communities.

1 of 2

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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