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Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

Thursday, January 9th, 2020

Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

This week’s casino news follows up on an account from last week where in actuality the Resorts World Catskills ended up being nearing bankruptcy. Fast forward for this week in addition they’ve found a remedy for their financial woes.

Genting Group Purchases Upstate Brand New York Casino

The other day, it was stated that the Resorts World Catskills was on the brink of bankruptcy. This week, they have discovered a customer to simply help them get out of financial trouble.

The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes lower than two days after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale with all of the remaining shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group within the deal.

The Genting Group ended up being currently the investor that is largest in this specific casino, owning 86-percent of the shares before they completed their many recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent more than their current market value. Following its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. Year the expectation is that the sale is to be completed at some point before the end of the calendar.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau

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