X0303 4 2010-01-04 0000906780 EMPIRE RESORTS INC NYNY 0001432054 CAPPELLI LOUIS C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE VALHALLA NY 10595 1 0 0 1 See footnote (2) 0001437954 LRC Acquisition LLC C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE VALHALLA NY 10595 0 0 0 1 X See footnote (2) 0001437929 Cappelli Resorts LLC C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE VALHALLA NY 10595 0 0 0 1 X See footnote (2) Common Stock, $0.01 par value per share 2010-01-04 4 A 0 10000 0 A 10000 D Common Stock, $0.01 par value per share 5374512 I By LRC Acquisition LLC and Cappelli Resorts LLC Stock Option (right to buy) 2.30 2010-01-04 4 A 0 10000 0 D 2015-01-03 Common Stock, $0.01 par value per share 10000 10000 D Consists solely of restricted stock issued pursuant to Empire Resorts, Inc.'s 2005 Equity Incentive Plan. All such shares vest on January 4, 2011. Louis R. Cappelli serves as the managing member and majority owner of LRC Acquisition LLC and Cappelli Resorts LLC, and indirectly owns 5,374,512 shares of Empire Resorts, Inc.'s Common Stock, $.01 par value per share. LRC Acquisition LLC directly owns 4,200,000 of these shares. Cappelli Resorts LLC directly owns 1,174,512 of these shares. Each of LRC Acquisition LLC and Cappelli Resorts LLC beneficially owns less than ten percent (10%) of the outstanding shares of Empire. Each of LRC Acquisition LLC and Cappelli Resorts LLC disclaims beneficial ownership of the shares reported on this Form 4 other than the shares directly owned by such person. ? of the options are currently exercisable. An additional ? of the options vest on April 4, 2010. An additional ? of the options vest on July 4, 2010. The remaining ? of the options vest on October 4, 2010. /s/ LOUIS R. CAPPELLI 2010-01-06 LRC ACQUISITION LLC /s/ LOUIS R. CAPPELLI, Managing Member 2010-01-06 CAPPELLI RESORTS LLC /s/ LOUIS R. CAPPELLI, Managing Member 2010-01-06