S&P Global Ratings had on Monday assigned its 'B+' long-term issuer credit rating to Empire Resorts. Kien Huat Realty, an affiliate of Kien Huat Realty Sdn Bhd, owns 51% while GentingM owns the remaining 49% stake.
KUALA LUMPUR: Genting Malaysia’s affiliate Casino operator Empire Resorts, Inc., based in the state of New York, plans to issue US$475mil senior secured notes due 2025.
The company will use the note proceeds to repay existing bridge loans, fund its debt service reserve account, and boost liquidity, according to statements issued by S&P Global Ratings and Fitch Ratings.
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