The New York Supreme Court has ordered Empire Resorts, which owns Monticello cCasino & Raceway, to pay $65 million to its bondholders. After major bondholders had called in notes, Empire Resorts had filed a lawsuit last August in New York Supreme Court to try to block payments.
A story in the Middletown (NY) Herald-Record reported the news and included the following comment from an Empire Resorts spokesperson: "We are working with our financial advisers, Merrill Lynch and our legal counsel on next steps with the bondholders," said the company's spokesman, Charlie Degliomini, the senior vice president. "We are attempting to craft a solution that will be mutually acceptable to all parties."
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