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Court rules against Cappelli


October 9, 2013

Empire Resorts, Inc. and EPR Properties announced that on October 2, the New York Supreme Court in Sullivan County denied in its entirety the Article 78 petition filed by Louis Cappelli’s Concord Associates, LP on or about May 14. The petition named the Town of Thompson and its Town Board and Planning Board and EPR’s wholly owned subsidiary, EPT Concord II, LLC (“EPT”), as respondents. Monticello Raceway Management, Inc. (MRMI), a wholly-owned subsidiary of Empire, asked and received intervener status in the proceeding in light of its interest in the outcome of the matter.

In its petition, Concord Associates challenged the actions and determinations made by Thompson officials regarding the phased development of EPR’s approximately 1,500 acres at the site of the former Concord Resort in Sullivan County, New York. EPR and MRMI envision MRMI developing a comprehensive resort destination that includes a casino and a harness racetrack and may also include one or more hotels, food and beverage outlets, a spa facility, retail venues, space for conferences, meetings, entertainment and more. In addition to the casino, the project is expected to include a golf course and a resort including a variety of amenities.