Why a $1.2 Billion Gambling Mecca Has Fallen on Hard Times [The New York Times]
EMPIRE RESORTS (NYNY)
US:NASDAQ Investor Relations:
empireresorts.com/investor-relations
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Source: The New York Times
Why a $1.2 Billion Gambling Mecca Has Fallen on Hard Times - The New York Times [What you need to know to start the day: Get Today in your inbox .] MONTICELLO, N.Y. — It was once thought to be a sure thing, a $1.2 billion gambling mecca that carried long-held hopes of revitalizing the Catskills, and more recent expectations of driving Gov. Andrew M. Cuomo’s upstate development program. But Resorts World Catskills, roughly 85 miles northwest of City, has lost money every quarter since it opened in February 2018, dragged into the red by a combination of underwhelming atten and nine-figure loans. Last month, the largest stockholder of Empire Resorts, the company that operates the casino, argued that it should go private The company’s most recent filing Things had gotten so bad that Empire Resorts successfully petitioned the State Gaming Commission to reduce the number of slot machines required on its gaming floors, a move that would artificially increase the casino’s win per unit — a
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