Replies to post #16022 on WEALTH UNIVERSITY

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Empire Resorts Signals Abandonment of Mohawk Casino Project



St. Regis Mohawk Tribe Finds Empire to be in Breach of Development
Agreements



AKWESASNE, N.Y., Feb. 6 /PRNewswire-USNewswire/ -- Empire Resorts, the
St. Regis Mohawk Tribe's Sullivan County casino development partner has
notified the Tribe of its intention to abandon the Mohawk's Catskills
casino project at Monticello Raceway.



The Tribe received a letter from Empire on February 5, 2008 informing
the Tribe of their intentions to "shut down" their Monticello Development
office and to immediately cease funding of necessary pre-development
expenses associated with the Mohawk project. Empire has previously
communicated its intent to enter into a joint venture with a competing
gaming interest to move the raceway and VLT operations to a different
location a few miles from the existing Monticello Racetrack.



The St. Regis Mohawk Tribal Council has determined that Empire's notice
constitutes an express breach of its gaming agreements with the Tribe and
is committed to aggressively pursuing any and all appropriate legal
remedies to protect the interests of the Tribe.



Public Information Office

St. Regis Mohawk Tribe

Tel: [phone] ext. 286


http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-06-2008/0004750853&EDATE=