Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
This week’s casino news follows up on an account from a week ago where the Resorts World Catskills ended up being bankruptcy that is nearing. Fast forward to the week and so they’ve found a solution for their woes that are financial.
Genting Group Purchases Upstate Brand New York Casino
The other day, 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 bought the Resorts World Catskills from Empire Resorts. The announcement comes less than two days after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale with all regarding the remaining stocks of its $1.2 billion Las Vegas-style casino in Monticello set to transfer over to the Genting Group in the deal.
The Genting Group was already the investor that is largest in this specific 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 significantly more than their current market value. After its latest purchase, Genting Group now has a total of 40 gambling enterprises in its portfolio. Year the expectation is that the sale is to be completed at some point before the end of the calendar.
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