Genting Malaysia is injecting US$150 million in cash into its loss-making US unit Empire Resorts, its gaming facilities temporarily closed in March as a result of the Covid-19 pandemic.
This follows a similar cash injection of US$40 million into the unit in March.
Empire Resorts owns and operates Resorts World Catskills, a casino resort which is located in Sullivan County, New York, approximately 90 miles from New York City, as well as the Monticello Raceway, a horse racing facility located in Monticello, New York.
On September 9, Resorts World Catskills was permitted to reopen 30 of its 150 casino tables. The Monticello Raceway is expected to resume races shortly, perhaps as soon as today.
Last August, the Malaysian operator agreed to buy a 38 percent stake in Empire from a company controlled by its chairman, Tan Sri Lim Kok Thay.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
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