$65 Million Hit At 'Mighty M'

Published: April 15, 2010 02:26 pm EDT

A New York Supreme Court judge has ruled that Monticello Raceway must pay its bondholders $65 million

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The track had gone to court hoping to escape meeting the calls, triggered when Plainfield Asset Management, a lead investor, called in $22.5 million of the notes of the track’s owners, Empire Resorts.

Former Empire CEO Joseph Bernstein says the track “should be fine” with the backing of 50% owner Kien Huat, a Malaysian casino giant.

(Harness Tracks of America)

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