Gaming company stock declines after Mohawk vote

Tuesday, November 24, 2009  

Shares of Empire Resorts fell double digits after members of the St. Regis Mohawk Tribe of New York voted against pursuing an off-reservation casino.

The company was working with the tribe on a casino in the Catskills, about 90 minutes north of New York City. The project was dealt a setback when the Bush administration rejected the gaming site, saying it was too far from the reservation.

The tribe wanted to revive the deal with the hopes that the Obama administration would change course. But tribal members voted down the idea in a referendum on Saturday.

At least two other tribes are still interested in the Catskills. The state officially supports up to three off-reservation casinos in the Catskills.

Get the Story:
Empire Resorts Plunges Amid Setback On Catskills Casino (The Wall Street Journal 11/24)
St. Regis Mohawks vote to stop pursuing Sullivan casino (The Middletown Times Herald-Record 11/24)
Mohawk Tribe votes against pursuing Catskills casino (The Mid-Hudson News Network 11/24)
St. Regis vote rejects plans for building, Catskill casino (The Watertown Daily Times 11/24)

Also Today:
After delay, Brasher, Massena receive casino gaming money (The Watertown Daily Times 11/24)