Genting Malaysia to subscribe up to US$20mil of Empire Resorts shares

KUALA LUMPUR (Bernama) -- Genting Malaysia Bhd’s (GENM) indirect wholly-owned subsidiary, Genting ER II LLC (GER II), had entered into a Subscription Agreement to subscribe to up to US$20 million (US$1=RM4.11) of additional Series L preferred stocks of Empire Resorts Inc.

In a filing with Bursa Malaysia today, the company said the proceeds will be utilised by Empire for its working capital and to conclude Empire’s short-term refinancing plan.