Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
This week’s casino news follows up on a tale from a week ago where in fact the Resorts World Catskills was bankruptcy that is nearing. Fast forward for this week plus they’ve found a solution with their woes that are financial.
Genting Group Purchases Upstate Brand New York Casino
The other day, it was reported that the Resorts World Catskills was on the brink of bankruptcy. This week, they have discovered a customer to greatly help them escape of financial trouble.
The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes lower than two months after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase along with regarding the remaining stocks of its $1.2 billion Las Vegas-style casino in Monticello set to transfer over to the Genting Group within the deal.
The Genting Group ended up being currently the investor that is largest in this specific casino, owning 86-percent of the shares before they completed their most recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent significantly more than their market that is current value. As a result of its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. Year the expectation is that the sale is to be completed at some point before the end of the calendar.