MONTICELLO, N.Y.–(BUSINESS WIRE)–Empire Resorts, Inc. (NASDAQ-GM:NYNY) (“Empire” and, together with its subsidiaries, the “Company”) announced that Kien Huat Realty III Limited (“Kien Huat”), Empire’s largest stockholder, agreed to exchange a Company promissory note it holds with an outstanding balance of approximately $36.166 million for approximately 1,380,000 shares of Empire common stock in full satisfaction of such outstanding promissory note. The exchange of such promissory note was bas