EMPIRE RESORTS, INC. (NASDAQ:NYNY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June1, 2017, Empire Resorts, Inc. (the Company) announced that
Joseph A. DAmato was retiring from his positions as the Companys
Chief Executive Officer and a director effective immediately.
There was no disagreement on any matters relating to the Companys
operations, policies or practices. In connection with Mr.DAmatos
retirement, all shares of restricted stock held by Mr.DAmato that
were subject to vesting conditions became vested immediately upon
his retirement.
Concurrently with his retirement, Mr.DAmato entered into a
consulting agreement with the Company, which has a term
commencing immediately and expiring on June1, 2018. to such
consulting agreement, Mr.DAmato will be available to advise the
Company on its operations and its ongoing development projects in
Sullivan County, New York, including the Resorts World Catskills
resort casino.
In connection with Mr.DAmatos retirement, effective June1, 2017,
Mr.Ryan Eller, the Companys President and Chief Operating
Officer, was appointed as the Companys President and Chief
Executive Officer. Please see the Companys Current Report on Form
8-K, dated March27, 2017, for biographical and other information
about Mr.Eller.
The employment agreement entered into between the Company and
Mr.Eller, dated March27, 2017, remains unchanged.
A copy of a press release relating to Mr.DAmatos retirement is
attached here as Exhibit 99.1.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Press release, dated June1, 2017 |
About EMPIRE RESORTS, INC. (NASDAQ:NYNY)
Empire Resorts, Inc. is a holding company for various subsidiaries engaged in the hospitality and gaming industries. The Company, through Monticello Raceway Management, Inc. (MRMI), owns and operates Monticello Casino and Raceway, which is an approximately 40,000 square foot video gaming machine (VGM) and harness horseracing facility located in Monticello, New York, over 90 miles northwest of New York City. Monticello Casino and Raceway operates over 1,110 VGMs, which include approximately 1,070 video lottery terminals (VLTs) and over 40 electronic table game positions (ETGs). It is also engaged in pari-mutuel wagering on the running of live harness horse races, the import simulcasting of harness and thoroughbred horse races from racetracks across the country and internationally, and the export simulcasting of its races to offsite pari-mutuel wagering facilities. The Company, through Montreign Operating Company, LLC, holds a license to operate a resort casino. EMPIRE RESORTS, INC. (NASDAQ:NYNY) Recent Trading Information
EMPIRE RESORTS, INC. (NASDAQ:NYNY) closed its last trading session up +0.30 at 24.45 with 2,811 shares trading hands.
