sec document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): June 29, 2005
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EMPIRE RESORTS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-12522 13-3714474
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o Monticello Raceway, Route 17B, Monticello, NY 12701
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (845) 794-4100
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N/A
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (SEE General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On June 29, 2005, the Company, certain of its current and former
affiliates, the Cayuga Nation of New York and the Cayuga Catskill Gaming
Authority entered into an amendment with respect to that certain Letter
Agreement and that certain Land Purchase Agreement, each dated April 3, 2003,
extending the effective dates provided in such agreements from June 30, 2005 to
December 31, 2005. A copy of this amendment is attached hereto as Exhibit 10.1.
The amendment to such agreements were executed by members of the
Provisional Governing Council of the Cayuga Nation of New York and the Cayuga
Gaming Authority. Such members were elected to the Provisional Governing Council
pursuant to an election held on May 11, 2005. The Company has been advised that
the results of such election were that approximately 34% of the enrolled members
of the Cayuga Nation of New York cast ballots in the election and that
approximately 64% approved the formation of a provisional government to address
issues of governance and continue settlement negotiations with the State of New
York.
The results of the election have been submitted to the Bureau of Indian
Affairs as a matter affecting the relations between the Cayuga Nation of New
York and the United States and its agencies. However, the Bureau of Indian
Affairs has not yet completed its review and accepted the results of the
election, which have been challenged by certain parties. Should the Bureau of
Indian Affairs determine not to accept the results of the election and should
validity of the extension agreement be affected by such determination, the
Company's ability to proceed with certain federal reviews essential for its full
participation in the gaming facility project contemplated by the agreements
could be adversely affected.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No. Exhibits
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10.1 Amendment by and among Empire Resorts, Inc., certain of its
current and former affiliates, the Cayuga Nation of New
York and the Cayuga Catskill Gaming Authority, dated June
29, 2005.
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 hereunto duly authorized.
EMPIRE RESORTS, INC.
Dated: July 6, 2005 By: /s/ Ron Radcliffe
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Name: Ron Radcliffe
Title: Chief Financial Officer