Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
This week’s casino news follows up on a tale from last week where in fact the Resorts World Catskills ended up being nearing bankruptcy. Fast forward to the week and additionally they’ve found an answer with their financial woes.
Genting Group Purchases Upstate New York Casino
Last week, it absolutely was reported that the Resorts World Catskills was on the brink of bankruptcy. This they’ve found a buyer to help them get out of financial trouble week.
The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes lower than two weeks after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with associated with remaining shares 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 had been currently the largest investor in this specific casino, owning 86-percent of the shares before they completed their most recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent more than their current market value. After its purchase that is latest, Genting Group now has a total of 40 gambling enterprises in its portfolio. The expectation is the sale is usually to be finished at some point ahead of the end for the calendar year.
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