Volume Spike Investor

Empire Resorts, Inc. (NASDAQ: NYNY) has been one of the more volatile casino and gaming stocks because of an “on-again off-again” status of its new casino with regulatory approvals.  In pre-market trading at 8:45 AM EST we have seen 22,900 shares trade hands and the last trade was at $3.75 after closing at $3.28 yesterday.

The company has announced along with Concord Associates that the New York State Legislature has approved Governor David Paterson’s program bill granting an enhanced revenue structure to cover expenditures.  In short this will allow a $1 Billion dollar gaming resort destination at the site of the historic Concord Hotel in Sullivan County, N.Y.  The project is scheduled to open in 24 months.

52-week range:  $0.86 to $7.65
Market Cap:        $100M before the pop
Avg. Volume:      356,000 shares
OPTIONS:            Yes, but thin

Jon C. Ogg
June 25, 2008