SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 21, 2003
ALPHA HOSPITALITY CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 1-12522 13-3714474
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
707 Skokie Boulevard, Suite 600, Northbrook, Illinois 60062
(Address of Principal Exeuctive Offices) (Zip Code)
Registrant's telephone number, including area code: (847) 418-3804
Item 5. Other Events
The Planning Board of the Village of Monticello, New York, has
determined that there is no basis for revising its earlier
environmental findings with respect to the planned casino at
Monticello Raceway. The Board issued a Negative Declaration
under New York State's Environmental Quality Review Act ("SEQRA")
after reviewing an Environmental Assessment Form ("EAF") and
supporting documentation that was submitted on January 30, 2003.
The Negative Declaration confirms the ability of the project to
go forward. Although the Board had issued an earlier Negative
Declaration with respect to the project, the EAF was filed to
assess the potential cumulative impacts of other recent proposals
that have occurred in the area.
As a result of the review, the Board found that the project will
not have a significant adverse effect on the environment and that
there was no basis for any revision to the Findings Statement
issued for the Project by the Board as last amended on October
24, 2000. The site plan, subdivision plan and special permit for
the project were first submitted on March 10, 1998, and were
amended in 1999 and 2000 after variances for the project were
approved by the Board of Zoning Appeals of the Village.
The project is being sponsored by Catskill Development L.L.C.
("Catskill"), which recently announced a letter of intent to
consolidate with Alpha Hospitality Corporation (NASDAQ: NY NY)
and operate under the new name "Empire Resorts, Inc." ("Empire
Resorts"). The requisite number of shareholders has consented to
the name change and the company is now doing business under the
Empire Resorts name pending the consolidation, which is subject
to the completion of definitive agreements and approvals by all
parties.
Last week, the Cayuga Nation of New York (the "Cayuga Nation")
filed an application with the Department of Interior to approve
taking a parcel of land adjacent to the Monticello Raceway into
trust for purposes of the casino. Approval of the application
requires a determination that the proposed casino site is not
detrimental to the surrounding community. The process whereby an
Indian Tribe receives approval for lands to be taken into trust
for gaming purposes involves extensive reviews, including an
environmental review.
In general the Indian Gaming Regulatory Act (the "IGRA"), 25
U.S.C. 2701 et seq. ("IGRA") prohibits gaming on Indian lands
that are acquired in trust after October 17, 1988 (the date of
enactment of the IGRA). However, the general prohibition does not
apply if the Secretary of Interior determines that the gaming
establishment "would be in the best interest of the tribe and its
members, and would not be detrimental to the surrounding
community". The Secretary may make this determination only after
consultation with the Indian tribe and appropriate State and
local officials, including officials of other nearby Indian
tribes. The gaming establishment is permitted only if the
Governor of the State in which the gaming activity is to be
conducted concurs in the Secretary's determination.
The Bureau of Indian Affairs reviews all applications for taking
land into trust under 25 U.S.C. 465 and the related
regulations. These require that the application include: 1) a
legal survey of the property to be acquired in trust and the
current owners of the property, together with an abstract of
title or commitment for a title insurance policy and an appraisal
of the property, 2) a statement that the land is needed to
facilitate tribal economic development, a resolution from the
tribe's governing body authorizing the acquisition request and
documentation as to the authority for the tribe's actions, 3) a
brief summary of the tribe's history, organization and governing
practices, 4) a draft Environmental Assessment that complies with
the National Environmental Policy Act.
In addition, in to determine whether the acquisition of land for
gaming purposes would be in the best interest of the tribe, the
application must include information on possible adverse impacts
on the tribe and plans for responding to those impacts
projections of: 1) income statements, balance sheets, fixed
assets accounting and cash flow statements for the gaming
enterprise and the tribe covering the term of any management
agreement, 2) tribal employment, job training and career
development, 3) benefits to the tribe from tourism, the proposed
uses of the increased tribal income and the relationship with the
surrounding community. The application must also address impacts
on the local environment, social structure, infrastructure,
services, housing, community character and land use patterns and
the impact on the economic development, income and employment of
the community. Plans for mitigating adverse impacts, identifying
the costs of impacts to the community and sources of revenue to
accommodate them must also be provided, together with proposed
programs, if any, for compulsive gamblers.
The Company's management believes that the Planning Board's
determinations confirm the information provided in the recent
Cayuga application. The Bureau of Indian Affairs previously
issued a two-part determination with respect to the site in 2000,
following an environmental review. Management believes that the
Planning Board's recent determinations should assist the Bureau
in reviewing the updated environmental information contained in
the Cayuga application.
To the extent the content of this report includes forward-looking
statements, they involve various risks and uncertainties
including (i) the risk that various approvals necessary for
consummation of the agreements described herein and required to
be obtained from the Bureau of Indian Affairs, the National
Indian Gaming Commission, the Governor of the State of New York
and various other federal, State and local governmental entities
are not received, (ii) the risk that financing necessary for the
proposed projects may not be able to be obtained because of
credit factors, market conditions or other contingencies, (iii)
the risk that the Cayuga Nation may exercise certain broad rights
with regard to termination of the within described agreements
(iv) the risk that definitive agreements with Catskill
Development LLC and its affiliates are not consummated as
contemplated and that the proposed consolidation does not occur,
(v) the risk of non-compliance by various counterparties of the
related agreements, and (vi) general risks affecting the Company
as described from time to time in it's reports filed with the
Securities and Exchange Commission. 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.
Please see Press Release attached at Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
99.1 Press Release dated April 21, 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
Dated: April 21, 2003 ALPHA HOSPITALITY CORPORATION
(Registrant)
By: /s/ Scott A. Kaniewski
Scott A. Kaniewski
Chief Financial Officer
EXHIBIT 99.1
ALPHA HOSPITALITY CORPORATION
DBA EMPIRE RESORTS, INC.
707 Skokie Boulevard
Suite 600
Northbrook, IL 60062
Contact:
Charles Degliomini
cdegliomini catskill.net
(646) 495-5253
FOR IMMEDIATE RELEASE
Lead Agency Confirms Updated Environmental Assessment for Empire
Resort's Cayuga Casino at Monticello Raceway
Northbrook, Illinois - April 21, 2003-The Planning Board of the
Village of Monticello, New York, has determined that there is no
basis for revising its earlier environmental findings with
respect to the planned casino at Monticello Raceway. The
Planning Board has issued a Negative Declaration under New York
State's Environmental Quality Review Act ("SEQRA") after
reviewing an Environmental Assessment Form ("EAF") and supporting
documentation that was submitted on January 30, 2003.
"The Negative Declaration confirms our ability to go forward and
is a significant milestone." said Robert Berman, Chairman and CEO
of Empire Resorts, Inc. (NASDAQ:NYNY*) "Receiving this
determination is of paramount importance for the company."
Although the Board had issued an earlier Negative Declaration
with respect to the project, the EAF was filed to assess the
potential cumulative impacts of other recent proposals for
projects in the area. Work on the new EAS began in October,
according to Morad Tahbaz, a Director of Empire Resorts, Inc. who
worked extensively on the EAF as President of Company affiliate
Catskill Development L.L.C. "The decision of the State
Legislature to approve three Indian casinos in the Catskills has
generated considerable development activity recently. But it was
important to the Cayuga Nation and to the involved federal and
State agencies that our environmental assessment be exhaustive
and up to date."
"As a result of the review, the Board found that the project will
not have a significant adverse effect on the environment and that
there was no basis for any revision to the Findings Statement
issued for the Project by the Board as last amended on October
24, 2000."
On April 11, 2003, the Cayuga Nation of New York (the "Cayuga
Nation") filed an application with the Department of Interior to
approve taking a parcel of land adjacent to the Monticello
Raceway into trust for purposes of a casino. Approval of the
application requires a determination that the proposed casino
site is not detrimental to the surrounding community.
The Bureau of Indian Affairs previously issued a two-part
determination with respect to the site in 2000, following an
environmental review. Management believes that the Planning
Board's recent determinations should assist the Bureau in
reviewing the updated environmental information contained in the
Cayuga application.
The project is being sponsored by Catskill Development L.L.C.
("Catskill"), which recently announced a letter of intent to
consolidate with Alpha Hospitality Corporation and operate under
the new name "Empire Resorts, Inc." The consolidation is subject
to the completion of definitive agreements and approvals by all
parties.
Commenting on the importance of the Monticello Raceway site, Mr.
Berman concluded, "The Raceway has been designed to accommodate a
high volume of visitors for decades. The basic infrastructure is
in place. Significantly, Route 17, the main gateway to the
Catskills from the New York metropolitan area, was specifically
designed to handle a high volume of traffic directly into the
Raceway. As a result, this project will help revitalize the
Catskills by fitting in, not by reshaping the area."
To the extent the content of this press release includes forward-
looking statements, they involve various risks and uncertainties
including (i) the risk that various approvals necessary for
consummation of the agreements described herein and required to
be obtained from the Bureau of Indian Affairs, the National
Indian Gaming Commission, the Governor of the State of New York
and various other federal, State and local governmental entities
are not received, (ii) the risk that financing necessary for the
proposed projects may not be able to be obtained because of
credit factors, market conditions or other contingencies, (iii)
the risk that the Cayuga Nation may exercise certain broad rights
with regard to termination of the within described agreements
(iv) the risk that definitive agreements with Catskill
Development LLC and its affiliates are not consummated as
contemplated and that the proposed consolidation does not occur,
(v) the risk of non-compliance by various counterparties of the
related agreements, and (vi) general risks affecting the Company
as described from time to time in it's reports filed with the
Securities and Exchange Commission. 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.
###
_______________________________
* Alpha Hospitality Corporation is currently doing business as
Empire Resorts, Inc. pending the effective date of a name change
approved by its shareholders.