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 the Resorts World Catskills ended up being nearing bankruptcy. Fast forward to this week plus they’ve found a remedy with their financial woes.
Genting Group Purchases Upstate Brand New York Casino
Last week, it had been 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 less than two weeks after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase along with associated with remaining stocks of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group in the deal.
The Genting Group had been currently the investor that is largest in this specific casino, owning 86-percent of the stocks before they completed their most recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent a lot more than their market that is current value. Following its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. The expectation is the sale is usually to be completed at some point prior to the end associated with the season.
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