sec document
Rule 424(b)(3)
Registration Statement 333-118899
PROSPECTUS SUPPLEMENT
DATED NOVEMBER 5, 2004
TO
PROSPECTUS DATED SEPTEMBER 30, 2004
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EMPIRE RESORTS, INC.
---------------------------------------
This Prospectus Supplement, dated November 5, 2004 (the "Supplement"),
supplements that certain Prospectus dated September 30, 2004 (the "Prospectus"),
and should be read in conjunction with the Prospectus.
SELLING SECURITYHOLDERS
The following updates the table under the section entitled "Selling
Securityholders" of the Prospectus, to account for sales and transfers of shares
listed in such table that Empire Resorts is aware of since the date of the
Prospectus. Such transactions are as follows:
o on August 11, 2004, Jefferies & Company, Inc. sold $750,000 principal
amount of notes of Empire Resorts pursuant to Rule 144A of the
Securities Act of 1933, as amended ("Rule 144A"); and
o on October 20, 2004, Jefferies & Company, Inc. purchased $5,000,000
principal amount of notes of Empire Resorts, of which $4,620,000 was
acquired from the Selling Securityholders listed below pursuant to
Rule 144A:
o $170,000 from DB Distressed Opportunities Fund, L.P.,
o $800,000 from DB Distressed Opportunities Fund, Ltd.,
o $400,000 from MW Post Portfolio Fund, Ltd,
o $380,000 from Sphinx Distressed (MW Post Opportunity) Segregated
Portfolio,
o $710,000 from MW Post Opportunity Offshore Fund, Ltd.,
o $410,000 from Post Total Return Fund, L.P.,
o $110,000 from Post Total Return Offshore Fund, Ltd.,
o $590,000 from The Opportunity Fund, LLC, and
o $1,050,000 from Post Opportunity Fund, L.P.
The revised table, therefore, is as follows:
Original
Principal
Amount of Number of Number of Number of
Notes Percentage of Shares of Shares of Shares of
Beneficially Notes Common Common Common
Owned Outstanding Stock Held Stock Stock Held
That May before Before Offered for After
Name be Sold Offering Offering(1) for Sale(1) Offer(2)
---- -------- -------- ----------- ----------- ---------
Harbert Convertible $6,000,000 9.23% 477,707 477,707 --
Arbitrage Master
Fund, Ltd.
Whitebox $1,000,000 1.54% 79,618 79,618 --
Diversified
Convertible
Arbitrage Partners
LP
Guggenheim $250,000 * 19,904 19,904 --
Portfolio XXXI,
LLC
Pandora $1,750,000 2.69% 139,331 139,331 --
Select Partners LP
Whitebox Hedged $2,500,000 3.85% 199,045 199,045 --
High Yield Partners
LP
Whitebox $4,500,000 6.92% 358,280 358,280 --
Convertible
Arbitrage Partners LP
DBAG London $5,750,000 8.85% 457,802 457,802 --
AG Domestic $600,000 * 47,771 47,771 --
Convertibles, L.P.
AG Offshore $1,400,000 2.15% 111,465 111,465 --
Convertibles, Ltd
Portside Growth and $2,000,000 3.08% 159,236 159,236 --
Opportunity Fund
Ltd.
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Original
Principal
Amount of Number of Number of Number of
Notes Percentage of Shares of Shares of Shares of
Beneficially Notes Common Common Common
Owned Outstanding Stock Held Stock Stock Held
That May before Before Offered for After
Name be Sold Offering Offering(1) for Sale(1) Offer(2)
---- -------- -------- ----------- ----------- ---------
Basso Multi-Strategy $4,500,000 6.92% 358,280 358,280 --
Holding Fund
Cohanzick Credit $1,000,000 1.54% 79,618 79,618 --
Opportunities Master
Fund, Ltd.
Smithfield Fiduciary $1,500,000 2.31% 119,427 119,427 --
LLC
Aviator Overseas $83,000 * 6,608 6,608 --
Fund II
Aviator Master Fund $917,000 1.41% 73,010 73,010 --
American Investors $750,000 1.15% 59,713 59,713 --
Life Insurance Co.
Ritchie Long/Short $2,500,000 3.85% 300,953 199,045 101,908
Trading Ltd.
The Animi Master $4,500,000 6.92% 658,280 358,280 300,000
Fund, Ltd.
Circle T $3,000,000 4.62% 295,753 238,853 56,900
Partners LP
Jefferies & $5,200,000 8.00% 414,013 414,013 --
Company, Inc.
Gabriel Capital, LP $490,000 * 39,013 39,013 --
Ariel Fund, Ltd. $510,000 * 40,605 40,605 --
Bernische $600,000 * 47,771 47,771 --
Lehrerversicherungs
kasse
Jefferies Umbrella $1,300,000 2.00% 103,503 103,503 --
Fund Global
Convertible Bonds
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Original
Principal
Amount of Number of Number of Number of
Notes Percentage of Shares of Shares of Shares of
Beneficially Notes Common Common Common
Owned Outstanding Stock Held Stock Stock Held
That May before Before Offered for After
Name be Sold Offering Offering(1) for Sale(1) Offer(2)
---- -------- -------- ----------- ----------- ---------
Beamtenvers $3,200,000 4.92% 254,777 254,777 --
Icherungskasse Des
Kantons Zurich
Auspicis Ltd $100,000 * 7,962 7,962 --
Pensionkasse Der $60,000 * 4,777 4,777 --
EMS-Chemie AG
Pensionkasse Der $60,000 * 4,777 4,777 --
Rockwell
Automation AG
Pensionkasse Der $90,000 * 7,166 7,166 --
EMS - Dottikon AG
Pensionkasse $90,000 * 7,166 7,166 --
Vantico
Personal $150,000 * 11,943 11,943 --
Fuersorgestiftung
Der
Gebaudeversicherung
Des Kantons Bern
Personal Vorsorge $150,000 * 11,943 11,943 --
Der PV Promea
Gemini Sammel $200,000 * 15,923 15,923 --
Stiftung Zur
Foerderung Der
Personal Vorsorge
DB Distressed $130,000 * 10,350 10,350 --
Opportunities Fund,
L.P.
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Original
Principal
Amount of Number of Number of Number of
Notes Percentage of Shares of Shares of Shares of
Beneficially Notes Common Common Common
Owned Outstanding Stock Held Stock Stock Held
That May before Before Offered for After
Name be Sold Offering Offering(1) for Sale(1) Offer(2)
---- -------- -------- ----------- ----------- ---------
DB Distressed $700,000 1.08% 55,732 55,732 --
Opportunities Fund,
Ltd.
MW Post Portfolio $1,950,000 3.00% 155,255 155,255 --
Fund, Ltd
Sphinx Distressed $520,000 * 41,401 41,401 --
(MW Post
Opportunity)
Segregated Portfolio
HFR DS Opportunity $900,000 1.38% 71,656 71,656 --
Master Trust
MW Post $540,000 * 42,994 42,994 --
Opportunity
Offshore Fund, Ltd.
Post Total Return $840,000 1.29% 66,879 66,879 --
Fund, L.P.
Post Total Return $140,000 * 11,147 11,147 --
Offshore Fund, Ltd.
The Opportunity $910,000 1.40% 72,452 72,452 --
Fund, LLC
Post Opportunity $1,300,000 2.00% 103,503 103,503 --
Fund, L.P.
* Less than 1%
(1) The number of conversion shares shown in the table above assumes conversion
of the full amount of notes held by such holder at the maximum conversion
rate of 79.62 shares per $1,000 principal amount at maturity of notes. This
conversion rate is subject to certain adjustments. Accordingly, the number
of shares of common stock issuable upon conversion of the notes may
decrease from time to time. Under the terms of the indenture, fractional
shares will not be issued upon conversion of the notes. Cash will be paid
instead of fractional shares, if any.
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(2) Except as noted in the table, assumes all of the notes and shares of common
stock issuable upon their conversion are sold in the offering.
All provisions of the Prospectus not specifically amended by this
Supplement remain in full force and effect.
Please insert this Supplement into your Prospectus and retain both this
Supplement and the Prospectus for future reference. If you would like to receive
a copy of the Prospectus, as supplemented to date, please write to Empire
Resorts' Corporate Secretary at c/o Monticello Raceway, Route 17B, P.O. Box
5013, Monticello, New York 12701 or call (845) 794-4100.
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