Empire Resorts’ board of directors recently picked lawyer and real estate developer Joseph Bernstein to be its chief executive officer for a term that will end December 31.
Bernstein owned Monticello Raceway through his company Catskill Development LLC, but sold the track to Empire Resorts in 2004 after plans for a Class III tribal gaming facility fell through.
Bernstein was brought on board to assist Empire Resorts to eliminate debt and stay out of bankruptcy.
“Progress has already been made by the company as we have rapidly improved cash flow, cut expenses and enhanced productivity, but it is imperative that we have a strong leader like Joe Bernstein who will aggressively pursue initiatives to address the company’s long-term future,” said Empire Resorts Lead Director James Simon.
The company also named Nancy Palumbo, former director of the New York State Lottery and president of Green Planet Group, to its board as an independent director.