Genting Malaysia injects $150 million of capital in Empire Resorts

Resorts World Catskills
Resorts World Catskills

Genting Malaysia on Monday announced it has injected another $150 million of equity into its U.S.-based Empire Resorts.

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.

Genting said it has injected funds via a subscription agreement to subscribe up to US$150 million of additional Series L. 

It said the proceeds from the Series L will be utilized by Empire to facilitate its long-term financing plan. 

Genting’s latest injection follows similar capital injection moves in March 2020 of $40 million, September 2020 of $150 million and March 2021 of another $20 million. 

Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. He has developed some of the most well-known conferences for the Asian gaming industry, most recently being the ASEAN Gaming Summit, the Australasian Gaming Seminars, and the Mekong Gaming Summit. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.