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 an account from a week ago where in actuality the Resorts World Catskills ended up being nearing bankruptcy. Fast forward to the week and they’ve found a remedy for their woes that are financial.

Genting Group Purchases Upstate New York Casino

The other day, 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 weeks after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale with all for the remaining 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 largest investor in this particular casino, owning 86-percent of the stocks before they completed their most recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent more than their market that is current value. Following its purchase that is latest, 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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