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 in actuality the Resorts World Catskills ended up being nearing bankruptcy. Fast forward to the week and so they’ve found a remedy with their financial woes.
Genting Group Purchases Upstate New York Casino
The other day, it was stated that the Resorts World Catskills was on the brink of bankruptcy. This week, they’ve discovered a customer to help them escape of monetary trouble.
The Genting Group has bought the Resorts World Catskills from Empire Resorts. The announcement comes not as much as two days after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase along with associated with the staying shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer over to the Genting Group into the deal.
The Genting Group had been already the largest investor in this particular casino, owning 86-percent of the shares 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 gambling enterprises in its portfolio. The expectation is the sale is to be completed at some point prior to the end of this season.
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