Empire Resorts, Inc. is one of the engaged in the hospitality and gaming industries. The Company is operating Resorts World Catskills and a casino resort that is located at the approximately1,700-acre site of a four-season destination resort in Sullivan County, New York. The NASDAQ NYNYCompany is owning and operating Monticello Casino and Raceway, a 45,000 square foot video gaming machine (VGM). TheNasdaq igov stock news at https://www.webull.com/quote/nasdaq-igov company’s Monticello Casino and Raceway are covering VGM operations and raceway operations. Monticello Casino and Raceway are operating 1,090 VGMs. This is included 1,070 video lottery terminals (VLTs) and 20 electronic table game positions. ETGs are including the games of roulette, blackjack and three-card poker.
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Transaction Details
- Under the terms of the agreement, Empire Resorts special committee, with the assistance of its financial advisor, will be conducting a 10-business day go-shop process following the date of the announcement of the definitive agreement.
- It will be actively initiated, solicit, encourage and evaluate alternative acquisition proposals. It may be offering alternative acquisition proposals. This process will facilitate our efforts to maximize value for stockholders.
- Empire Resorts are having the right to terminate the definitive agreement that is accepting a superior proposal. One is accepted subject to the terms and conditions of the definitive agreement.
- This process is resulting in a superior proposal or other transactions are approved or completed. Empire Resorts does not intend to disclose developments concerning the solicitation process unless and until this special committee is deciding to require further disclosure.
- The transaction is expected to close in the fourth quarter of 2019. The transaction is required the majority of the minority stockholder approval and it is providing an opportunity for Empire Resorts’ stockholders to exercise their appraisal rights in connection with the proposed transaction.
- The transaction is also subject to the satisfaction of customary closing conditions and regulatory approvals. This is including obtaining specified gaming authority approvals and performance of the parties’ contractual obligations through closing.
- Empire Resorts will become a privately-held company and its common stock will no longer be listed on any public market.
- Moelis & Company LLC is serving as financial advisor to Empire Resorts’ special committee and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as its legal advisor. Cleary Gottlieb Steen and Hamilton LLP are serving as legal advisors to Genting Malaysia. You can also know some Ipos stock informationat https://www.webull.com/quote/ipos .
