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 where in actuality the Resorts World Catskills had been bankruptcy that is nearing. Fast forward for this week in addition they’ve found an answer with their financial woes.

Genting Group Purchases Upstate New York Casino

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A week ago, it absolutely 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 not as much as two days after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase along with 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 already the investor that is largest 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 market that is current value. Following its latest purchase, 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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