Genting Malaysia injects $150 million of capital in Empire Resorts

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.