As previously disclosed, on August 18, 2019, Empire Resorts, Inc., (the Company), entered into an Agreement and Plan of Merger
(the Merger Agreement), by and among Hercules Topco LLC, a Delaware limited liability company (Parent), Hercules Merger Subsidiary Inc., a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub),
and the Company. Parent and Merger Sub are affiliates of Kien Huat Realty III Limited (Kien Huat) and Genting Malaysia Berhard (GenM). Kien Huat is currently the holder of approximately 86% of the voting power of the
Companys outstanding capital stock. The Merger Agreement provides for, upon the terms and subject to the conditions set forth in the Merger Agreement, the merger of Merger Sub with and into the Company, with the Company surviving as a
subsidiary of Parent (the Merger).
Under the Merger Agreement, during the 10-business
day period beginning on the date of the Merger Agreement and continuing until 12:00 p.m. Eastern time on August 30, 2019 (the Go-Shop Period), the Company had the right to solicit, initiate,
knowingly facilitate or knowingly encourage any alternative takeover proposal and to participate or engage in discussions or negotiations with respect to any takeover proposal. At 12:00 p.m. Eastern time on August 30, 2019 the Go-Shop Period expired. During the Go-Shop Period, the Company, with the assistance of Moelis & Company LLC, the financial advisor to the
Special Committee of the Board of Directors of the Company, contacted 19 potential bidders. Each party that was contacted either notified the Company that it would not be interested in pursuing a potential transaction with the Company or did not
respond. The Company also received inbound indications of interest from 2 potential financing sources. Ultimately, however, both of these parties failed to make a proposal constituting a Takeover Proposal as defined by the Merger
Agreement. Starting immediately after 12:00 p.m. Eastern time on August 30, 2019 and in accordance with the terms of the Merger Agreement, the Company became subject to customary covenants restricting its ability to solicit takeover proposals
from third parties or to provide information to and engage in discussions with a third party in relation to a takeover proposal, subject to certain customary exceptions to permit the Board of Directors of the Company to comply with its fiduciary
duties, as set forth in the Merger Agreement.
Additional Information and Certain Information Regarding Participants
The Company, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Company
stockholders in connection with the proposed transaction. The Company intends to file a proxy statement and other relevant materials with the SEC in connection with any such solicitation of proxies from Company stockholders. COMPANY STOCKHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the ownership of the Companys directors and
executive officers in the Companys common stock is included in their SEC filings on Forms 3, 4, and 5, which can be found through the Companys website (http://www.empireresorts.com), or through the SECs website at www.sec.gov.
Information can also be found in the Companys other SEC filings, including the Companys Annual Report on Form 10-K for the year ended December 31, 2018. More detailed and updated information
regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the proposed
transaction. Stockholders will be able to obtain the proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC for no charge at the SECs website at www.sec.gov. Copies will also
be available at no charge at the Companys website at http://www.empireresorts.com, by writing to Empire Resorts, Inc., at c/o Monticello Casino and Raceway, 204 State Route 17B, P.O. Box 5013, Monticello, NY, 12701.