On January 22, 2019, management of the Company and Monticello Raceway Management, Inc. (“MRMI”), a wholly-owned subsidiary of
the Company, notified employees of MRMI concerning the Company’s plans to cease video gaming machine operations and food and beverage service at Monticello Casino and Raceway. The Company anticipates operations to cease on or about
April 23, 2019.
This report contains forward-looking statements. These statements include statements about our plans, strategies,
financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, the actual results, performance or achievements of Empire and Montreign Operating may differ materially from those
expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,”
“seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would,” and variations of these terms and similar
expression, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and its management team based on the experience
of management operating gaming facilities, are inherently uncertain. All statements in this report regarding our business strategy, future operations, business plans and objectives, are forward-looking statements. All forward-looking statements
speak only as of the date as of which they are made. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions concerning future events that are difficult to predict. Factors that may cause
actual results to differ materially from current expectations include, among others, changes in the competitive environment in the gaming industry and the markets where we operate; the ability to comply with regulatory requirements within the
specified timeframe to cease video gaming machine operations and food and beverage service operations at Monticello Casino and Raceway; the ability to comply with federal and state statutes and regulations with respect to labor and employment and
other operational matters at Monticello Casino and Raceway, over which we may have no control.
A more complete description of these risks
and uncertainties can be found in the filings of the Company with the U.S. Securities and Exchange Commission. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date hereof or as otherwise
specified herein. The Company undertakes no obligation to update any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking
statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.