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Empire Resorts (NYNY) has 1 split in our NYNY split history database. The split for NYNY took place on December 23, 2015. This was a 1 for 5 reverse split, meaning for each 5 shares of NYNY owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 200 share position following the split.
When a company such as Empire Resorts conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the NYNY split history from start to finish, an original position size of 1000 shares would have turned into 200 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Empire Resorts shares, starting with a $10,000 purchase of NYNY, presented on a split-history-adjusted basis factoring in the complete NYNY split history.
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||0.05%|
|About Empire Resorts|
|Empire Resorts is a holding company engaged in the hospitality and gaming industries. Through its subsidiary, Monticello Raceway Management, Inc., Co. owns and operates Monticello Casino and Raceway, which features a video gaming machine (VGM) and harness horseracing facility. Monticello Casino and Raceway operates VGMs, which includes video lottery terminals and electronic table game positions. Co. is also engaged in pari-mutuel wagering on the running of live harness horse races, the import simulcasting of harness and thoroughbred horse races from racetracks across the country and internationally, and the export simulcasting of its races to offsite pari-mutuel wagering facilities. According to our NYNY split history records, Empire Resorts has had 1 split.|
|NYNY Split History Table|
|12/23/2015||1 for 5|
|Services Stock Splits|
|NYNY is categorized under the Services sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: NYNY shares outstanding history