Previously, Resorts World Catskills was publicly traded. Following the financial difficulties the company has now been saved by billion-dollar company, Genting Malaysia Berhad, currently chaired by Lim Kok Thay. In the first half of 2019 they, again, announced a loss, this time it amounted to $73.5 million. In the same year, the casino resort lost over $130 million. Resorts World Catskills opened its doors in February 2018. Resorts World Catskills Fails After Less Than Two Years The purchase deal is said to have been 15% over market value on the current company stocks. Once this has been done, Genting Malaysia Berhad, which is the conglomerate belonging to Lim Kok, will become the sole owner of the Resorts World Catskills casino resort. The deal is set to be signed, sealed and delivered before the end of the year. The sale took place less than two weeks after the resort had contemplated applying for Chapter 11 bankruptcy. Resorts World Catskills is a Las Vegas styled casino. The shares are said to be worth $1.2 billion. Empire Resorts, which is the parent company of Resorts World Catskills, had announced at the beginning of the week that it intends to sell remaining shares of the casino. The New York-based casino, which is said to be the largest in the upstate area, has accepted a buyout. Resorts World Catskills, which has been deemed as ‘nearly bankrupt’, has been sold to a Malaysian billionaire.

World casino resort catskills