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 in which the Resorts World Catskills had been nearing bankruptcy. Fast forward for this week in addition they’ve found a remedy with their woes that are financial.
Genting Group Purchases Upstate Brand New York Casino
A week ago, it had been stated 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 not as much as two months after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase with all regarding the staying shares 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 largest investor 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 current market value. After its purchase that is latest, Genting Group now has a total of 40 casinos in its portfolio. The expectation is that the sale is to be completed at some point prior to the end associated with calendar year.
Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau
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