Published:
May 11, 2009 11:44 am EDT
According to a report on recordonline.com, Empire Resorts, the owner of the Monticello Raceway, could be heading towards bankruptcy
.
The article states that on Friday, May 8 the company announced that it is continuing to lose millions and has not yet been able to arrange for financing to pay off creditors.
Empire reported a net loss applicable to common shares of $2.48 million in the quarter ending on March 31. Empire said fewer people are coming to the racino because of competition from Yonkers and slot machines in Pennsylvania. Racing revenues were unchanged.
Click here to read the story in its entirety.
(With files from recordonline.com)
Tags