Genting Malaysia to inject RM625m into Empire Resorts Inc

Empire had temporarily closed its entire gaming operations, including Resorts World Catskills (RWC) and it was only on Sept 9 that RWC had restarted its operations.

KUALA LUMPUR: Genting Malaysia Bhd is injecting up to US$150mil or about RM625mil into its US-based subsidiary Empire Resorts Inc which was severely impacted by the stoppage of operations in March due to the Covid-19 pandemic.

In a statement by GentingM to Bursa Malaysia last Friday, it stated that it would subscribe for the series L preferred stock of Empire for US$150mil and the funds will be used for working capital and financing purposes.