December 28, 2017 / 9:37 PM / 21 days ago

BRIEF-Empire Resorts Announces Series Of Transactions To Strengthen Financial Position

Dec 28 (Reuters) - Empire Resorts Inc:

* EMPIRE RESORTS - KIEN HUAT REALTY III LTD AGREED TO EXCHANGE A CO PROMISSORY NOTE IT HOLDS WITH AN OUTSTANDING BALANCE OF ABOUT $36.2 MILLION

* EMPIRE RESORTS - KIEN HUAT REALTY III LTD AGREED TO EXCHANGE THE CO PROMISSORY NOTE FOR ABOUT 1.4 MILLION SHARES OF CO‘S COMMON STOCK

* EMPIRE RESORTS - IN FURTHER SUPPORT OF LOAN TRANSACTION WITH BANGKOK BANK, KIEN HUAT AGREED TO MAKE AVAILABLE TO EMPIRE A LOAN IN AMOUNT OF $20 MILLION

* EMPIRE RESORTS - CO, KIEN HUAT TERMINATED KIEN HUAT‘S COMMITMENT FOR $35 MILLION BACKSTOP IF CO COMMENCED ANOTHER RIGHTS OFFERING LIKE JAN 2016 RIGHTS OFFERING

* EMPIRE RESORTS INC - KIEN HUAT EXTENDED FOR AN ADDITIONAL YEAR ITS AGREEMENT NOT TO ENGAGE IN A GOING-PRIVATE TRANSACTION WITH EMPIRE Source text for Eikon: Further company coverage:

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