MONTICELLO – The announced takeover of all the remaining equity of Empire Resorts, owner of Resorts World Catskills and Monticello Raceway, is seen as exception news for the enterprise and the region, said Sullivan County Visitors Association President and CEO Roberta Byron-Lockwood.
An offer by affiliates of Kien Huat Realty III and Genting Malaysia Berhad to purchase the remaining equity of the company has been approved by the board of Empire Resorts.
The Malaysian group already owns 86 percent of the stock.
Byron-Lockwood said the purchase will breathe new vitality into the enterprise. “Genting is certainly a leader in gaming and gaming facilities and I think it is going to afford them avenue to make this as successful and profitable as possible and we wish them great; we’re excited.”
Since the casino opened a year-and-a-half ago, it has been bleeding millions of dollars.
