Empire’s Construction Manager Signs Project Labor Agreement with Hudson Valley Building & Construction Trades Council

  Empire’s Construction Manager Signs Project Labor Agreement with Hudson
  Valley Building & Construction Trades Council

Business Wire

MONTICELLO, N.Y. -- March 12, 2013

Empire Resorts, Inc. (“Empire”) (NASDAQ-GM: NYNY) and the Hudson Valley
Building & Construction Trades Council (“HVBCTC”), today announced that LP
Ciminelli, Inc. (“LP Ciminelli”), the construction manager for a proposed
casino, hotel and harness racetrack to be built by Empire’s subsidiary,
Monticello Raceway Management, Inc. (“MRMI”), has signed a Project Labor
Agreement (“PLA”) with HVBCTC. The proposed casino project is to be situated
on property owned by a subsidiary of EPR Properties (NYSE:EPR), comprising
1,500 acres located at the site of the former Concord Resort in Sullivan
County, New York. When the development project receives necessary regulatory
approvals and financing, the proposed casino project is expected to create
approximately 1,200 full-time-equivalent union jobs during construction.

“This agreement represents a significant leap forward for this project, and is
further proof that Empire is living up to its word to build union in Sullivan
County,” said Todd Diorio, President of HVBCTC. “Empire and MRMI have proven
to be committed partners to both labor and the community. We expect this
project will create hundreds of good paying local union construction jobs
without having to wait for the multiple legislative and referendum
uncertainties associated with the legalization of table games. This project
can get built under current, not prospective, law.”

Empire’s CEO Joseph D’Amato said, “A PLA with the HVBTC is important for a
project as complex and vital to the community as ours. It is another example
of our willingness to work together with local union labor to bring good jobs
with benefits to Sullivan County. This PLA, along with the Labor Peace
Agreement we signed in August 2012 with the New York Hotel and Motel Trades
Council, underscores our commitment to being union built and staffed.”

LP Ciminelli’s Senior Vice President Frank L. Ciminelli, II concluded, “A
union built job will help ensure this project will maintain superior
productivity, cost-effectiveness and the quality workmanship that Empire and
MRMI expect, and that LP Ciminelli and the HVBCTC can deliver.”

Empire/MRMI and EPR Properties have presented a comprehensive master
development plan for 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 a championship golf experience, complimented by retail, dining,
entertainment and recreational uses, and new residential communities.

The proposed master development plan represents a new way of thinking about
resort development in the Catskills region. The plan envisions a multi-faceted
destination resort which we anticipate will become a catalyst for investment
in the region. A place to find adventure or relaxation, it will offer
family-centered attractions and amenities surrounded by the natural beauty of
the Catskills.

About the Hudson Valley Building & Construction Trades Council

The Hudson Valley Building & Construction Trades Council consists of 28 local
construction unions and over 10,000 tradesmen and women covering the counties
of Orange, Ulster, Sullivan and Dutchess.

About Empire

Empire Resorts, Inc. owns and operates, through its subsidiary Monticello
Raceway Management, Inc., the Monticello Casino and Raceway, a harness racing
track and casino located in Monticello, New York, and is 90 miles from midtown
Manhattan. For additional information, please visit
http://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.

Contact:

Empire Resorts, Inc.
Charles Degliomini, 845-807-0001
cdegliomini@empireresorts.com
or
HVBCTC
Todd Diorio, 845-565-2737
President
 
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