Empire Resorts Inc (NASDAQ:NYNY) Shares Fall — Not Up 390% — After 1:5 Split Takes Place

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Shares of Empire Resorts Inc (NASDAQ:NYNY) have taking a very mild hit today after the stock’s previously reported 1/5 reverse split was executed. The split, which gives one share for every five shares which were held, doesn’t change ownership percentage in any way. However, Yahoo Finance’s system apparently hasn’t been made aware of the split as their quotes are showing that shares of Empire Resorts Inc (NASDAQ:NYNY) are trading up over 390% today.

The reverse split went into effect at 12:01 AM today after the 1/5 ratio was decided upon by the Company’s Board of Directors on December 7.

The stock is down 1.11% or $0.24 following the news, hitting $21.41 per share. About 41,656 shares traded hands or 167.33% up from the average. nyny has declined 7.08% since May 20, 2015 and is downtrending. It has underperformed the S&P500 by 4.82%.

Empire Resorts, Inc. is a holding company for various subsidiaries engaged in the hospitality and gaming industries. The company has a market cap of $208.75 million. Through its wholly owned subsidiary, Monticello Raceway Management, Inc. , the Company owns and operates Monticello Casino and Raceway, a 45,000 square foot video gaming machine (VGM) and harness horseracing facility located in Monticello, New York. It currently has negative earnings. Monticello Casino and Raceway operates 1,110 VGMs, which include 1,090 video lottery terminals (VLTs) and 20 electronic table game positions (ETGs).

{“>Yahoo Finance’s system apparently hasn’t been made aware of the split as their quotes are showing that shares of Empire Resorts Inc (NASDAQ:NYNY) are trading up over 390% today.

The reverse split went into effect at 12:01 AM today after the 1/5 ratio was decided upon by the Company’s Board of Directors on December 7.

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