Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement
This week’s casino news follows up on a story from the other day where in actuality the Resorts World Catskills had been nearing bankruptcy. Fast forward to this week and they’ve found a remedy with their financial woes.
Genting Group Purchases Upstate Brand New York Casino
A week ago, 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 bought the Resorts World Catskills from Empire Resorts. The announcement comes lower than two days after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase along with associated with the remaining shares 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 was 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 purchased the remaining shares at about 15-percent a lot 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 that the sale will be finished at some point before the end of the calendar year.
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