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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 fact the Resorts World Catskills was nearing bankruptcy. Fast forward to the week and so they’ve found an answer for their woes that are financial.

Genting Group Purchases Upstate Brand New York Casino

Last week, 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 bought the Resorts World Catskills from Empire Resorts. The announcement comes significantly less than two days after the casino’s parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with regarding the remaining shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group into the deal.

The Genting Group ended up being currently the investor that is largest in this particular 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 significantly more than their current market value. As a result of its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. The expectation is that the sale is usually to be finished at some point before the end for the calendar year.

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