New York (AP) -- Empire Resorts Inc. says it may not be able to manage financially if it isn't able to renegotiate or find other means to pay off debts that are set to mature soon. The gaming company has a credit facility with the Bank of Scotland that matures on May 29 and it has holders of its senior secured convertible notes who are entitled to demand repayment in July. However, New York-based empire does not have the money to repay the credit line and says it may be unable to arrange financing...

Monticello - Empire Resorts reported steep losses in 2008 at its struggling Monticello racino, and company officials now say that bankruptcy could be looming. The owner of the Monticello Gaming & Raceway reported a net loss applicable to common shares of USD 12.2 million for 2008, compared with a loss of USD 26.2 million in 2007. Empire executives say the company's immediate future is in the hands of its creditors.

Philadelphia (AP) -- Empire Resorts Inc. said Tuesday that a joint-venture partner in an upstate New York hotel and casino project has received USD 250 million in financing from an insurer with close ties to labor unions. The casino developer said Concord Associates LP has received financing from Union Labor Life Insurance Co. to build the USD 1 billion Concord-Empire Resorts Hotel and Casino in the Catskills. The project is expected to generate union construction and local jobs.