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): December 19, 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.)
701 N. Green Valley, Suite 200, Henderson, NV 89074
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (702) 990-3355
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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 December 19, 2005, Empire Resorts, Inc. ("Empire"), Monticello
Raceway Management, Inc., the Cayuga Nation of New York (the "Cayuga Nation")
and the Cayuga Catskill Gaming Authority entered into a Letter Agreement with
reference to their existing agreements, which expire December 31, 2005. The new
Letter Agreement acknowledges a previous understanding under which the Cayuga
Nation would be able to pursue another site in the Catskills area and Empire
would be able to work with the St. Regis Mohawk Tribe to complete arrangements
for a Native American casino resort at a site adjacent to Monticello Raceway and
terminates arrangements between Empire and the Cayuga Nation with respect to
such site. In addition, the new Letter Agreement provides for an extension to
December 31, 2006 and for the parties to, among other things, (i) work together
to develop a casino resort and hotel at another site, and (ii) upon the
determination of such site, to revise all other agreements entered into at the
time of the original letter agreement to conform to the new site once that site
is selected. A copy of the new Letter Agreement is attached hereto as Exhibit
10.1. The new Letter Agreement with the Cayuga Nation was executed by members of
the Cayuga Nation Council who were the signatories to Empire's existing
agreements with the Cayuga Nation. These and other representatives of the Cayuga
Nation are currently in discussions with the Bureau of Indian Affairs concerning
leadership and federal recognition issues affecting the Cayuga Nation. The
ability of Empire to move forward with the Cayuga Catskill Resort, as
contemplated by Empire's various agreements with the Cayuga Nation, may be
affected by the actions taken by the Cayuga Nation to resolve these leadership
and federal recognition matters.
The foregoing summary of the new Letter Agreement does not purport to
be complete and is subject to and qualified in its entirety by reference to the
actual text of such amendment, a copy of which is attached hereto as EXHIBIT
10.1 and incorporated herein by reference.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit No. Exhibits
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10.1 Letter Agreement by and among Empire Resorts, Inc.,
Monticello Raceway Management, Inc., the Cayuga Nation
of New York and the Cayuga Catskill Gaming Authority,
dated December 19, 2005.
SIGNATURES
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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: December 22, 2005 By: /s/ Ronald J. Radcliffe
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Name: Ronald J. Radcliffe
Title: Chief Financial Officer