![]() ![]() Under the agreement, Kien Huat Realty will assume a 51% stake in Empire Resorts, and Genting takes 49%. A holding company controlled by the two firms will now merge with Empire, with the deal expected to close before year’s end. , and Genting Malaysia is a giant, publicly traded, transnational gaming company that Kien Huat partially owns and controls, and which also owns Resorts World New York City in Queens.īoth firms teamed up over the summer to make an August proposal to buy the roughly 14 percent shares they didn’t already own, offering $9.74 per share of common stock. Lim’s family trust is Kien Huat Realty III Ltd. Lim ’s family trust and Genting Malaysia take Empire private. ![]() Lim and Genting have said they aim to rescue Empire from a potential bankruptcy.Ī majority of shareholders in Empire Resorts, parent company of Resorts World Catskills casino in Sullivan County, New York state, voted Wednesday to let casino magnate K.T. ![]() A holding company controlled by the two companies will now merge with Empire, with the deal expected to close before year’s end. A majority of Empire Resorts' shareholders approved the proposal to buy the nearly 14% shares those firms didn’t already own. ![]()
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