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

This week’s casino news follows up on an account from the other day where the Resorts World Catskills ended up being bankruptcy that is nearing. Fast forward to the week plus they’ve found a solution for their financial woes.

Genting Group Purchases Upstate New York Casino

Last week, 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 less than two weeks after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the purchase with all of the remaining shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer over to the Genting Group within the deal.

The Genting Group had been currently the largest investor in this particular casino, owning 86-percent of the stocks before they completed their many recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent a lot more than their current market value. After 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.

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