UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Rule 13d-1(a)
Under the Securities Exchange Act of 1934
Empire Resorts, Inc.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
292052-10-7
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(CUSIP Number)
Maurice Dabbah
4, Rue du Mont Blanc
1201 Geneva-Switzerland
4122-732-3501
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Maureen W. McCarthy, Esq.
Patterson, Belknap, Webb & Tyler LLP
1133 Avenue of the Americas
New York, New York 10036
(212) 336-2000
January 12, 2004
--------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
Schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are sent.
(Continued on following pages)
(Page 1 of 10 pages)
--------------------------
CUSIP NO. 292052-10-7
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1. NAME OF REPORTING PERSON:
Maurice Dabbah
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
oo
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Switzerland
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 5,732,261
REPORTING -------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,732,261
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALY OWNED BY EACH REPORTING PERSON*
5,732,261
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.30%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
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* The Reporting Person disclaims beneficial ownership of shares not held
in his name except to the extent of his pecuniary interest therein.
(Page 2 of 10 pages)
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CUSIP NO.
292052-10-7
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1. NAME OF REPORTING PERSON:
Monticello Realty L.L.C.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
oo
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 5,732,261
REPORTING -------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,732,261
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALY OWNED BY EACH REPORTING PERSON
5,732,261
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.30%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
oo
--------------------------------------------------------------------------------
(Page 3 of 10 pages)
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CUSIP NO.
292052-10-7
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1. NAME OF REPORTING PERSON:
Manhattan Development Corporation
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
oo
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 5,732,261
REPORTING -------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,732,261
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALY OWNED BY EACH REPORTING PERSON*
5,732,261
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.30%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
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* The Reporting Person disclaims beneficial ownership of shares not held
in its name except to the extent of its pecuniary interest therein.
(Page 4 of 10 pages)
ITEM 1. SECURITY AND ISSUER
This statement on Schedule 13D relates to shares of Common
Stock, par value $.01 per share (the "Common Stock"), of Empire Resorts, Inc., a
Delaware corporation (the "Company"). The principal executive offices of the
Company are located at Rt 17B, P.O. Box 5013, Monticello, NY 12701.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule 13D is being filed by the following persons and
entities (each a "Reporting Person"):
Maurice Dabbah ("Maurice Dabbah"), President, Manhattan Development
Corporation, with a principal residence address at 4, Rue du Mont
Blanc, 1201 Geneva, Switzerland. Maurice Dabbah is a citizen of
Switzerland.
Monticello Realty L.L.C., a Delaware limited liability company (the
"LLC"), with a principal business address at 77 East 77th Street, New
York, NY 10021.
Manhattan Development Corporation, a New York corporation ("MDC"), with
a principal business address at 77 East 77th Street, New York, NY
10021.
Schedule I sets forth the information required by Items
2(a)-(c) and 2(f) of Schedule 13D for the manager of the LLC and the executive
officers and director of MDC.
During the last five years none of the above referenced
Reporting Persons or any of their respective managers, directors or executive
officers has (i) been convicted in a criminal proceeding (excluding minor
traffic violations or similar misdemeanors) or (ii) been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which it was or is subject to a judgement, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violations with respect to
such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
These shares of Common Stock of the Company were issued to the
LLC in consideration for the LLC's holdings in Monticello Casino Management, LLC
("MCM"), Mohawk Management, LLC ("Mohawk") and Monticello Raceway Management,
Inc. ("MRM") pursuant to that certain Amended and Restated Securities
Contribution Agreement, dated as of December 12, 2003 (the "Contribution
Agreement").
ITEM 4. PURPOSE OF TRANSACTION
Pursuant to the Contribution Agreement, the shares of Common
Stock were issued to the LLC in exchange for the LLC's holding in MCM, Mohawk
and MRM. Prior to the closing, the Company, MRM, MCM and Monticello Raceway
Development Company LLC ("MRD") owned all of the development and management
rights with respect to 229 acres of land
(Page 5 of 10 pages)
in Monticello, New York owned by Catskill Development, LLC ("Catskill"). The LLC
is a member of Catskill. In order to improve existing gaming facilities, to
install video lottery terminals and/or develop a Native American Casino on this
land, a significant amount of financing is required. It is anticipated that the
combination of the operations and assets of the Company, MRM, MCM, MRD and
Mohawk into an integrated public company structure will better align the
interests of the various members, improve management decision making, improve
administrative efficiency and facilitate the necessary financing.
After the closing, the LLC may distribute the shares to some
or all of its members, pro rata in accordance with their respective percentage
interests in the LLC.
Other than as described in this Schedule 13D, the Reporting
Persons do not have any specific plans or proposals that relate to or would
result in any of the actions specified in clauses (a) through (j) of Item 4 of
Schedule 13D, provided, however, that notwithstanding anything to the contrary
in this Schedule 13D, the Reporting Persons reserve the right to develop such
plans or proposals.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The foregoing is based upon 21,798,276 shares of the
Common Stock outstanding on January 12, 2004, as reported to the Reporting
Persons by the Company. As discussed more fully in Item 5(b) below, the LLC, MDC
and Maurice Dabbah beneficially own 5,732,261 shares of Common Stock,
representing 26.30% of the class.
(b) The LLC holds 5,732,261 shares of the Common Stock. MDC is
the Manager of the LLC and Maurice Dabbah is the President and sole stockholder
of MDC. As a result, each of the Reporting Persons has shared power to vote and
shared power to dispose or to direct the disposition of all 5,732,261 shares of
the Common Stock held by the LLC.
(c) Except for the transactions described in this Schedule
13D, no transactions were effected by the Reporting Persons in the Common Stock
during the 60 days preceding the date hereof.
(d) NA
(e) NA
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
The shares of Common Stock beneficially owned by the Reporting
Persons were transferred to the LLC pursuant to the Contribution Agreement. In
exchange for the LLC's holdings in MCM, Mohawk and MRM, the Company issued
5,732,261 shares of Common Stock to the LLC.
(Page 6 of 10 pages)
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Contribution Agreement, dated as of December 12, 2003.
(Incorporated by reference--filed as an exhibit to Form
S-4/A filed by Empire Resorts, Inc. on December 12, 2003.)
Exhibit 2. Agreement of Joint Filing.
(Page 7 of 10 pages)
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: January 21, 2004 /s/Maurice Dabbah
---------------------------------
Maurice Dabbah
MONTICELLO REALTY L.L.C.
By: MANHATTAN DEVELOPMENT
CORPORATION, Its Manager
Date: January 21, 2004 By: /s/Maurice Dabbah
-----------------------------
Name: Maurice Dabbah
Title: President
MANHATTAN DEVELOPMENT
CORPORATION
Date: January 21, 2004 By: /s/Maurice Dabbah
-----------------------------
Name: Maurice Dabbah
Title: President
(Page 8 of 10 pages)
Schedule I
MANAGER OF MONTICELLO REALTY L.L.C.
NAME TITLE BUSINESS ADDRESS
Manhattan Development Corporation Manager 77 East 77th Street
New York, NY 10021
DIRECTOR AND EXECUTIVE OFFICER OF
MANHATTAN DEVELOPMENT CORPORATION
NAME TITLE CITIZENSHIP BUSINESS ADDRESS
Maurice Dabbah Director, President Switzerland 4, Rue du Mont Blanc, 1201
and Treasurer Geneva, Switzerland
(Page 9 of 10 pages)