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8-K - FORM 8-K - EMPIRE RESORTS INC | d786965d8k.htm |
EX-99.2 - EX-99.2 - EMPIRE RESORTS INC | d786965dex992.htm |
EXHIBIT 99.1
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ADELAAR
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MONTREIGN
Ready Now
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Nancy A. Palumbo
Director of Empire Resorts, Inc.
Independent consultant in areas of strategic marketing, corporate communications and business development
Before Empire Resorts, Inc.
Director of the New York Lottery from January 2004 to October 2006
Executive Deputy Commissioner for the Office of Parks Recreation and Historic Preservation for the State of New York
General Manager of Walker Digital Lottery
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Emanuel R. Pearlman
Chairman of the Board of Directors of Empire Resorts, Inc.
Chairman and Chief Executive Officer of Liberation Investment Group, LLC
Advisor and Member of the former Board of Directors of Fontainebleau Miami JV,LLC
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A Catskills Destination.
Reborn.
Empire is the Only Existing
Casino Owner / Operator in the Catskills
Publicly traded | NASDAQ
Russell 2000 &3000
Proven and Experienced Management Team
Major Partner ( EPR Properties )
To Develop Adelaar
Fully Financed
We are Ready Now
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A Winning Team
Emanuel R. Pearlman
Chairman of Board of Directors 4 years of experience at Empire
14 years of total gaming experience
Chairman of the Board and Chairman of Special Committee Development & Expansion since 2010
Previous experience at Bally Entertainment; Multimedia Games; Fontainebleau Hotel;
Liberation Investments
Joseph a. D Amato CEO and Director
5 years of experience at Empire
32 years of total gaming experience
Previous experience at Mount Airy Casino Resort; Seneca Gaming; Resort International; Trump Entertainment; Ballys Park Place; Golden Nugget
Laurette J. Pitts COO, CFO and EVP
3 years of experience at Empire
22 years of total gaming experience
Previous experience at American Racing and Entertainment; Mohegan Sun at Pocono Downs; Caesars Entertainment; Mystic Lake Casino; Seneca Allegany
Nanette L. Horner
Chief Counsel, Chief Compliance Officer and EVP
4 years of experience at Empire
18 years of total gaming experience
Previous experience at Pennsyvania Gaming Control Board; Rutgers University School OF Law-Camden, Adjunt Professor of Law; Brown, Michael & Carroll
Charles A. Degliomini
EVP of Governmental Affairs and Corporate Communications
10 years of experience at Empire
13 years of total gaming experience
Previous experience at eLottery; Atlantic Communications Director for the Reagan-Bush Administration; U.S. Senate Staff
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$1 Billion Integrated Entertainment & lifestyle Complex
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Montreign and Adelaar Will Be a Game Changer for Sullivan County
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Reinvent. Revitalize. Reimagine. Ready Now.
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MONTREIGN
A Destination Gaming Resort
80,000 SQUARE FEET OF GAMING EXCITEMENT
~ 61table games
2,150 state- of- the-art slot machines
~ 2,620 gaming positions
Raine Center Bar and Spotlight Theatre
V.I.Me. The VIP Players Lounge
SPA & HOTEL
18 story tower
391 luxury rooms including 37 suites
4-star and 4-diamond standards
MEETING AND CONVENTION SPACE
~ 40,000 square feet
M Centre accommodates up to 1,300
Events range from banquets to boxing
RESTAURANTS
Fine dining to grab-n-go
Capital Investment No Competition Scenario
MONTREIGN MINIMUM CAPITAL INVESTMENT $450 Million
ADELAAR MINIMUM CAPITAL INVESTMENT $270 Million
MINIMUM CAPITAL INVESTMENT $720Million
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A Project Dream Team
PROJECT TEAM
ROLE TEAM MEMBER YEARS ON PROJECT
ROLE TEAM MEMBER YEARS ON PROJECT
Casino Owner & Operator 3.0 Resort Developer 3.0
Master Planner, Architect and Landscape Architect 2.5 Montreign Architect 2.5
Golf Course Designer 3.0 Environmental, Planning & Engineering Consultant 2.0
Public Relations 3.0 CAFO Consultant 1.5
Real Estate Counsel 3.0 SEC Counsel 3.0
Accountant 2.0 Local PR 2.5
Gaming, Labor & IP Counsel 3.0 Land Use Counsel 3.0
Pay & Benefit Consultant 3.0 Gaming Consultant 2.5
Contractor 2.0 Finance Counsel 1.0
Consultant 0.5 Financial Advisor 1.0
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Capital Investment No Competition Scenario
MONTREIGN MINIMUM CAPITAL INVESTMENT $450 Million
ADELAAR MINIMUM CAPITAL INVESTMENT $270 Million
MINIMUM CAPITAL INVESTMENT $720Million
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New york state $1 Billion
SULLIVAN COUNTY $610 Million
The Gaming acility will gnerate up to $300 Million in new economic benefit within the State in 2019
REGION $882 Million
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Revenue to the State
The Gaming Facility will generate ~ $108 Million in total direct and indirect tax revenues for New York State and Sullivan County in 2017
Growing to -$142 Million in 2021
DIRECT TAX REVENUE INDIRECT TAX REVENUE
($ in Million) ($ in Million)
$7.4 $8.1 $8.7 $8.9 $9.2 $97.5 $107.2 $115.0 $123.0 $128.7
$1.2 $1.3 $1.4 $1.5 $1.5 $1.9 $2.0 $2.1 $2.2 $2.2
2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
New York State Sullivan County New York State Sullivan County
TOTAL TAX REVENUE 2017 2018 2019 2020 2021
$108 Million $119 Million $127 Million $136 Million $142 Million
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Montreign Fully Financed
Fully committed financing with a combination of equity to be obtained through a public rights offering and debt in the form of a senior secured credit facility provided by Credit Suisse
No Competition Scenario
MONTRIGN FINANCING (1)
$150 Million of equity $478 Million of senior secured financing
EQUITY COMMITMENTS
Empire public rights offering of up to $150 Million Empires majority shareholder has agreed to purchase its pro rata shares in the rights offering Majority shareholder has agreed to purchase any shares not purchased by other shareholders
DEBT COMMITMENTS
Credit Suisse has committed to raise $478 Million
$350 Million first lien senior secured term loan
$128 Million second lien senior secured term loan
(1)Excludes $25 Million of cash to be invested in Montreign through December 31, 2014
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Ready Now SEQRA Amendements of Town Zoning Code New Comprehensive Development Plan Local Land Use Approvals(1) Final Site Plan and Minor Site Plan Amendment
Water and Waste Water (1) Approved contitioned upon receipt of other regulatory agency approvals
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Montreign Capital Investment
IF a license for a competing Gaming Facility is awarded elsewhere in the Region, Montreign will proceed with a project, however, the minimum capital investment would be greatly reduced
Gaming Facility Location Montreigns Minimum Capital Investment Region 1
If no License is awarded for a Gaming Facility located in Duchess or Orange Counties (or elsewhere in the Region):
If a License is awar Facility located in Duchess or Northern Orange County (or elsewhere in the Region other than Southern Orange County):
If a License is awarded for a Gaming Facility locatedin Southern Orange County: $172 Million $277 Million $452 Million
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David Brain Founder, President & CEO of EPR Properties
of EPR Properties Return on Insight
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EPR Properties
NYSE: EPR
Founded: 1997
$5.0 Billion Total Market Cap
39 States, D.C. & Canada
Investment Grade Rated
Invested in New York State for Over a Decade
Long Trem Ownership Oriented
Entertainment Education Recreation
Total Investments
$4,000 $3,000 $2,000 $1,000 $0 1997 1999 2001 2003 2005 2007 2009 2011 2013 2014 projected
Megaplex Theatres/ERCS Education Metro ski/Other
(in Millions)
10 Year Total Shareholder Return
EPR 207%
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ADELAAR
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Overview
1,700 acres
Master Planned Community
Four seasons of indoor fun &
outdoor adventure
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Million non-gaming |
Visitors anticipated
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A Plan
That Meets Ready Now
The Vision
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The waterpark Lodge
Over 150 acres of hilly terrain
A 350-room family-style lodge
50 family-style suites
A 120,000 square foot
indoor/outdoor waterpark
A conference center
A banquet facility
Snow tubing and boarding zip lines and mountain coaster
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Entertainment Village
Blumenfeld
Development Group
Co-Investor
Project Developer
Construction Manager
Property Manager
Features
Frank CineBowl Grille
Gotham Comedy Club
Catskills Marketplace
Bubbys Restaurant
Kids Quest / Cyber Quest
New Horizons Academy
Frank CineBowl Grille
Gotham Comedy Club
Catskills Marketplace
Bubbys Restaurant
Kids Quest
Cyber Quest
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Monster Golf Course and Culbhouse
Rees Jones The Open Doctor Golf Course Architect
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Even some of the most timeless golf course designs require remodeling or restoration to inject life into an existing layout
The Legendary Roes Jones
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LEGENDS of Sports GOLF CHALLENGE
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Designing Complete Environments
Unpled Community Design
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Laurette J. Pitts
COO, CFO and EVP of Empire Resorts, Inc.
Before Empire Resortd, Inc.
Regional Vice President of Finance and administration for American Racing and Entertainment , LLC
Chief Financial Officer for Mohegan Sun at Pocono Downs
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World-Class Destination Resort
Hospitality
Lodging and conference center
Entertainment
Shopping, movies, bowling, comedy
Food and Beverage
Restaurants, bars, farmers markets
Sports & Leisure
Golf, tubing, snowboarding
Attrasctions
Waterpark, adventure park
Health & wellness
Spa, fitness, swimming
Catskills
Skiing, hiking, biking, hunting, fly fishing
Events
Festivals, Bethel Woods, Monticello Motor Club
Gaming
World-class gaming, dining & entertainment
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Joseph A. DAmato
CEO and Director of empire Resorts, Inc.
Before Empire Resorts, Inc.
Chief Executive Officer of Mount Airy Casino Resort in Pennsylvania, and Chief Operating Officer and chief Financial Officer of the Seneca Gaming Corporation in Western New York
Former executive with the Resorts International, Trump Entertainment, Ballys Park Place and Golden Nugget organizations
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The Experience
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A Full Range of Dining Options
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A Full Range of Entertainment Options
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Spa. Salon. Pool. Fitness Center.
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Independent Gaming Market Analysis by Global Gaming & Hospitality
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Global Gaming & Hospitality
Respected and proven Gaming Consultant
Total Gross Gaming Revenue
$271 Million Year One
$359 Million Year Ten
Total Revenue
$319 Million Year One
$422 Million Year Ten
Gaming Revenues expected to be recaptured from New York residents:
$54 Million Annually
Gross Total Revenues from out-of-state visitors:
$120 Milion Growing to $151 Million Over 5 Years
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PAYS
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MONTREIGN
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ME. ME.
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Laurette J. Pitts
COO, CFO and EVP of Empire Resorts, Inc.
Before Empire Resortd, Inc.
Regional Vice President of Finance and administration for American Racing and Entertainment , LLC
Chief Financial Officer for Mohegan Sun at Pocono Downs
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Construction Economic Impact
UNION WORK CONSTRUCTION HOURS 2.6 Million NUMBER OF JOBS 3029
DIRECT EMPLOYEE COMPENSATION $177 Million DIRECT ECONOMIC OUTPUT $594 Million
Committed ot use women, minorities and veteran during construction
Goal of 20% combined local, minority, woman, persons with disablilities and veteran workforce participation
Currently, Empire purchases 64% of goods and services from New York state vendors and plans to continue this trend
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MWVCE Contractor Outreach Event
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Workforce Promote the Development of a skilled and diverse work force:
Provide access to promotion opportunities
Create opportunites for citixen of Sullivan County
Outreach to local unemployed and under-employed residents
Workforce training and development
Tuition Reimbursement
On-Site Daycare
Employee Assistance Program
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Gaming Facility job Creation
FULL & PART TIME JOBS UP TO 2,400 ESTIMATED
UP TO $76 Million UP TO $340 Million
Direct Employment from Operations
Direct Employment Compensation from Annual Operations Direct Economic Output from Annual Operations
Committed to a diverse workforce
Goal of 30% combined minority, woman, persons with disablilities and veteran workforce participation
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Nanette L. Horner
Chief of the Companys Responsible Gaming Committee
Member of the Board of Directors of the National Council on Problem Gambling and chair of the NCPGs Membership Committee
Before Empire Resorts, inc.
Pennsylvania Gaming Control Board Office of Chief Counsel assigned to the Bureau of Licensing
Pennsylvania Gaming Control Boards first Director of the Office of Compulsive and Problem Gambling
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Responsible Gaming
Compulsive and Problem Gambling Plan:
Employee training developed by the New York Council on Problem Gambling
TIPs training for responsible alcohol service
On-site information and printed materials
Signage
HOPELine
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Charles A. Degliomini
EVP of Governmental Affairs & Corporate Communications of Empire Resorts, Inc.
Director of the New York Gaming Association, and is on the Board of the Hudson Valley Economic Development Corporation
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Project Labor & Labor Peace Agreements
Project Labor and Labor Peace Agreements with Local Unions affiliated with the Hudson Valley Building and Construction Trades Council
Labor Peace Agreement with the New York Hotel & Motel Trades Council
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Partnerships Monticello Motor Club
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North Americas Premier Automotive Resort
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Partnerships Impacted Live Entertainment Venues
Upstate Theaters for a Fair Game: coalition that represents live entertainment venues in the State of New York
Bethel Woods Center for the Arts
Bardavon 1869 Opera House
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Bethel Woods Center for the Arts
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Historic Bardavon 1869 Opera House
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A catskills Destination. Reborn. Ready Now