Empire Resorts Trading Over 10% Higher after Master Development Term Sheet Agreement

Empire Resorts NYNY along with the management teams of Entertainment Properties Trust and MSEG, LLC reported that in furtherance of the exclusivity agreement that was announced on April 12, 2011, they have reached a Master Development Agreement Term Sheet for the joint development of the Companies' respective properties located in Sullivan County, NY. Empire owns and operates Monticello Casino and Raceway and EPR is the sole owner of Concord EPT, comprising 1,400 acres located at the site of the former Concord Resort. The Companies will continue to deal exclusively with each other until October 11, 2011, as set forth in the previously announced exclusivity agreement. Read more here.