Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
This week’s casino news follows up on a story from a week ago where the Resorts World Catskills was bankruptcy that is nearing. Fast forward to this week and so they’ve found an answer with their woes that are financial.
Genting Group Purchases Upstate New York Casino
A week ago, it absolutely was reported that the Resorts World Catskills was on the brink of bankruptcy. This week, they will have found a buyer to aid them escape of financial trouble.
The Genting Group has bought the Resorts World Catskills from Empire Resorts. The announcement comes less than two months after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with associated with staying shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group into the deal.
The Genting Group was currently the investor that is largest in this particular casino, owning 86-percent of the stocks before they completed their many recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent more than their market that is current value. As a result of its purchase that is latest, Genting Group now has a total of 40 casinos in its portfolio. The expectation is the fact that the sale is to be completed at some point before the end associated with season.
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