Parties also agree to a 5 Year Contract at Monticello Casino and
Raceway. Agreements Ensure Good Union Jobs for the Community
MONTICELLO, N.Y.--(BUSINESS WIRE)--Aug. 29, 2012--
Empire Resorts, Inc.’s (“Empire”) (NASDAQ-GM: NYNY) wholly owned
subsidiary, Monticello Raceway Management, Inc. (“MRMI”), and the New
York Hotel and Motel Trades Council (“NYHMTC”), the union that
represents approximately 100 workers at the Monticello Casino and
Raceway, today announced a Labor Peace Agreement (“LPA”) for MRMI’s
proposed racetrack, casino and hotel at the site of the former Concord
Resort. The parties also announced a new five year Collective Bargaining
Agreement (“CBA”) for NYHMTC members employed by MRMI, which includes
annual salary increases, sets wages for new hires and addresses employee
contributions toward health benefits.
“These agreements are great for existing workers and the entire
community,” said Peter Ward, President of NYHMTC. “Empire is not only a
strong union partner, but a strong community partner, committed to
creating good jobs in a region that desperately needs them. We look
forward to supporting them as they seek to create even more good union
jobs at the new facility.”
Empire’s CEO Joseph D’Amato said, “We look forward to continuing our
good working relationship with strong partners like Peter Ward and the
NYHMTC at our current facility. We are simultaneously moving forward
with our development plans at the site of the former Concord Resort. In
conjunction with Entertainment Properties Trust (NYSE: EPR), this
planned family and entertainment destination will create transformative
job opportunities for residents of Sullivan County and the Catskills
region.”
Empire/MRMI and Entertainment Properties Trust have presented a
comprehensive master development plan for 1,500 acres at the site of the
former Concord Resort, conceived by the industry-leading architect and
master planning firm Hart Howerton. Bringing new energy to a region with
rich history, the planned destination resort is expected to include a
casino, hotel and harness racetrack (designed by JCJ Architecture, a
nationally recognized casino architectural firm), specialty lodging, and
championship golf experience, complimented by retail, dining,
entertainment and recreational uses, and new residential communities.
The proposed master plan represents a new way of thinking about resort
development in the Catskills. The plan envisions a multi-faceted
destination resort which will become a catalyst for investment in the
region. A place to find adventure or relaxation, it will offer
family-centered attractions and amenities surrounded by the natural
beauty of the Catskills.
Empire’s Chairman of the Board Emanuel Pearlman concluded, “These
agreements with the NYHMTC mark an important milestone as we focus on
the future. We are mindful that our project’s progress represents a
significant prospect of hundreds of desperately-needed, well-paying jobs
with benefits for Sullivan County and the Catskills.”
About the New York Hotel and Motel Trades Council
The New York Hotel and Motel Trades Council is the union of hotel,
hospitality and gaming workers in New York. NYHTC represents over 30,000
non-managerial employees working in all hotel departments in over 300
Hotels across New York and New Jersey.
About Empire
Empire Resorts, Inc. owns and operates, through its subsidiary
Monticello Raceway Management, Inc., the Monticello Casino and Raceway,
a harness racing track and casino located in Monticello, New York, and
is 90 miles from midtown Manhattan. For additional information, please
visit http://www.empireresorts.com.
Source: Empire Resorts, Inc.
New York Hotel and Motel Trades Council
Josh Gold
jgold@nyhtc.org
or
Empire
Resorts, Inc.
Charles Degliomini, 845-807-0001
cdegliomini@empireresorts.com
