Empire Resorts is a publicly traded gaming and entertainment company whose common stock is traded on the NASDAQ Global Market under the symbol "NYNY." Our subsidiary, Monticello Raceway Management, Inc., owns and operates the Monticello Casino & Raceway in Monticello, NY. The facility includes over 1,000 slot machines and electronic table games, as well as dining and live entertainment. Monticello Casino & Raceway has been conducting harness racing since 1958 and the facility opened its doors to slot machine gaming in July 2004 and has already hosted over 5.5 million visitors.
We offer our patrons a convenient and comfortable gaming and entertainment experience and make available a number of different options including slot machine gaming, live harness horse racing, dining and simulcasting of thoroughbred and harness races from across the United States.
Under current management, the casino property has maximized efficiencies, launched a new marketing and television advertising campaign and is only one of two New York State casinos that has been approved by the New York State Lottery to participate in a tax-free "free play" pilot program. The pilot program expands the company's use of "free play" credits for players at Monticello Casino & Raceway and has substantially bolstered the company's marketing program and competitive position in response to the expansion of new casinos and aggressive marketing programs in Pennsylvania. The "free play" credits can be used by customers at any of the slot machines.
Approximately 50% of Empire Resorts is owned by Kien Huat, an investment company beneficially owned by a Lim family trust of which Mr. Lim Kok Thay of Malaysia and members of his family are beneficiaries. Kien Huat affiliates maintain substantial interests in a multinational group of companies actively involved in gaming, leisure, hospitality, power generation, plantations, property development, biotechnology, and oil and gas collectively known as the Genting companies. Kien Huat affiliates separately own a substantial interest in Star Cruises Ltd., the largest cruise operator in Asia, and financed the startup of the Foxwoods Resort & Casino in Connecticut and the Seneca Niagara Casino in New York. More recently, Genting New York, LLC has received permission from the state of New York to build and operate 4,500 slot machines at the Aqueduct thoroughbred track in Queens, NY.