SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* CAPPELLI LOUIS (Last) (First) (Middle) C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE (Street) VALHALLA NY 10595 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol EMPIRE RESORTS INC [ NYNY ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) X Other (specify below) See foonote (2)
	3. Date of Earliest Transaction (Month/Day/Year) 11/24/2010
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.1 par value per share	11/24/2010		S		15,950(1)	D	$1.1	5,331,519(2)	I	By LRC Acquisition LLC(2)
Common Stock, $0.1 par value per share	11/26/2010		S		53,100(1)	D	$1.1	5,278,419(2)	I	By LRC Acquisition LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* CAPPELLI LOUIS (Last) (First) (Middle) C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE (Street) VALHALLA NY 10595 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) X Other (specify below) See foonote (2)

1. Name and Address of Reporting Person* LRC Acquisition LLC (Last) (First) (Middle) C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE (Street) VALHALLA NY 10595 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See footnote (2)

1. Name and Address of Reporting Person* Cappelli Resorts LLC (Last) (First) (Middle) C/O CAPPELLI ENTERPRISES, INC. 115 STEVENS AVENUE (Street) VALHALLA NY 10595 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See footnote (2)

Explanation of Responses:

1. The amount reported in Column 4 is a sum of shares sold in multiple transactions, all at the price of $1.10 per share. The Reporting Persons undertake to provide to Empire Resorts, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each separate transaction.

2. Louis R. Cappelli ("Cappelli") serves as the managing member and majority owner of LRC Acquisition LLC ("LRC") and Cappelli Resorts LLC ("Resorts"), and indirectly owns 5,170,086 shares of the Company's Common Stock, $.01 par value per share. Cappelli directly owns (i) 98,333 options which are currently exercisable and (ii) 10,000 of restricted stock issued on January 4, 2010 pursuant to the Company's 2005 Equity Incentive Plan, which shares will vest on January 4, 2011. LRC directly owns 3,995,574 of shares. Resorts directly owns 1,174,512 shares. Each of Cappelli, LRC and Resorts beneficially owns less than ten percent (10%) of the outstanding shares of the Company. Each of Cappelli, LRC and Resorts disclaims beneficial ownership of the shares reported on this Form 4 other than the shares directly owned by such person.

Remarks:

	/s/ LOUIS R. CAPPELLI	11/29/2010
	LRC ACQUISITION LLC /s/ LOUIS R. CAPPELLI, Managing Member	11/29/2010
	CAPPELLI RESORTS LLC /s/ LOUIS R. CAPPELLI, Managing Member	11/29/2010
	** Signature of Reporting Person	Date
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