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 ended up being nearing bankruptcy. Fast forward to the week in addition they’ve found a remedy to their woes that are financial.
Genting Group Purchases Upstate New York Casino
The other day, it 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 purchased 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 purchase with all associated with staying stocks 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 ended up being already the investor that is largest in this particular casino, owning 86-percent of the shares before they completed their most recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent more than their current market value. As a result of its latest purchase, Genting Group now has a total of 40 gambling enterprises in its portfolio. The expectation is the fact that the sale is usually to be finished at some point before the end for the season.
Las Vegas Sands Corp Facing $12 Billion Lawsuit