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Monticello: Bigger & Better Than Ever

February 12, 2008

Empire Resorts Inc., parent company of Monticello Gaming & Raceway, announced Monday that it has reached an agreement to relocate the racetrack to a 160-acre parcel of land at the site of the historic Concord Hotel.

Construction is expected to begin later this year, with a grand opening in 2010. The site will have a 100,000-square-foot gaming area to be built within the new hotel that will be adjacent to the racetrack. Monticello currently has a half-mile track; the new track will be a five-eighths mile oval.

The $700 million project—known as “Entertainment City”—will also include golf courses, retail stores, restaurants and various family entertainment activities.

"This is a win across the board for Empire's shareholders and Sullivan County's residents,” stated Empire Resorts CEO David P. Hanlon in a press release. “The local economy will get the boost it needs in terms of jobs and this project is expected to enhance the value of the company for our shareholders, who will finally be rewarded for their patience in waiting for the day when we can build a world-class resort and gaming complex in the Catskills."

”Creating a resort destination with convention facilities is what we need to revive the local economy,” added Assembly member Aileen Gunther. “The racing industry and horsemen will also benefit from a new state-of-the-art racetrack and increased attendance."