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Long-Term Loan, Related Party
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Long-Term Loan, Related Party
Long-Term Loan, Related Party
On November 17, 2010, Empire entered into a loan agreement (the "Loan Agreement") with Kien Huat Realty III Limited ("Kien Huat"), in the principal amount of $35 million of which $17.6 million was outstanding as of December 31, 2015. Pursuant to the terms of the Commitment Letter and the Loan Agreement, upon consummation of the January 2016 Rights Offering, the Kien Huat Note was converted into 1,332,058 shares of common stock pursuant to the original terms of the Loan Agreement. As the Note was converted into common stock of the Company prior to the issuance of the 2015 financial statements, the liability has been reflected as a long-term liability in the accompanying financial statements.

The Company recognized approximately $1.3 million in interest expense associated with the Loan during the years ended December 31, 2015, 2014 and 2013, respectively.

Conversion of Kien Huat Note

On June 26, 2014, Kien Huat and the Company entered into a letter agreement, which was last amended on September 22, 2015 (as amended, the “Commitment Letter”), pursuant to which Kien Huat committed to support the Company’s equity financing needs with respect to the Casino Project and Adelaar. Kien Huat’s commitment to participate in, and backstop, the January 2016 Rights Offering was made in accordance with the Commitment Letter. Pursuant to the Commitment Letter, Kien Huat also agreed to convert in accordance with its terms that certain convertible promissory note in the principal amount of $17.4 million (the “Kien Huat Note”) into shares of the Company’s common stock upon the earlier to occur of (i) the closing of the January 2016 Rights Offering and (ii) the maturity of the Kien Huat Note, which is March 15, 2016. Accordingly, upon consummation of the January 2016 Rights Offering, on February 17, 2016, the Kien Huat Note was converted into 1,332,058 shares of common stock. Pursuant to the terms of the Commitment Letter and the Loan Agreement, upon consummation of the January 2016 Rights Offering, the Kien Huat Note was converted into 1,332,058 shares of our common stock at a conversion rate of 76.440567 shares of common stock per $1,000 in principle amount, which represents a conversion price of approximately $13.0820.