{"id":777027302,"date":"2025-06-04T09:06:40","date_gmt":"2025-06-04T12:06:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777027302"},"modified":"2026-04-21T22:17:33","modified_gmt":"2026-04-22T01:17:33","slug":"genting-malaysia-completes-acquisition-of-empire-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-completes-acquisition-of-empire-resorts","title":{"rendered":"Genting Malaysia completes acquisition of Empire Resorts"},"content":{"rendered":"\n

Genting Malaysia has acquired the remaining 51 per cent of Empire Resorts shares.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Malaysia has announced that it has completed its acquisition of a 51 per cent stake in Empire Resorts from Kien Huat Realty III Limited. The US$41m cash deal means Genting now owns the US business outright.<\/p>\n\n\n\n

Empire Resorts operates three businesses in New York: the Resorts World Catskills casino complex, Resorts World Hudson (a casino with video lottery terminals) and the mobile sports betting business Resorts World Bet. A US$40m debt owed to the Lim family\u2019s investment company will be transferred to Genting Malaysia as a result of the deal.<\/p>\n\n\n\n

Moody\u2019s deemded the move as credit negative<\/a>. The agency said that Empire\u2019s ongoing losses may lead Genting Bhd, via Genting Malaysia, to continue providing financial support. Empire has already received about US$750m in support from Genting Malaysia. It reported a net loss of US$59m in 2024.<\/p>\n\n\n\n

CreditSights\u00a0maintained its \u201coutperform\u201d rating for Genting Malaysia but warned that the transaction could increase Genting Malaysia\u2019s debt levels and raise concerns about related-party transactions.<\/p>\n\n\n

\n
\"Empire
Empire Resorts.<\/figcaption><\/figure>\n<\/div>\n\n\n

Genting Malaysia net profit improves in Q1 despite fall in revenue<\/h2>\n\n\n\n

Genting Malaysia’s Q1 net profit\u00a0was MYR52m (US$12.2m), up 42 per cent\u00a0year-on-year<\/a>.\u00a0Revenue\u00a0was MYR2.5bn (US$613m), down 6 per cent in year-on-year terms and 6 per cent sequentially. The group reported first-quarter adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of MYR737.2m (US$173m), an increase of 13 per cent year-on-year.<\/p>\n\n\n\n

In Malaysia, revenue from the leisure and hospitality sector, which includes casino operations, was MYR1.62bn (US$382m), down 7 per cent year-on-year. Adjusted EBITDA was down 11 per cent to MYR518.2m (US$). According to the company, this reflects an industry trend that is observed in similar markets in the immediate region, particularly in the premium players segment.<\/p>\n\n\n\n

In the United Kingdom and Egypt, the group reported a 7 per cent decrease in revenue to MYR413.4m (US$97.4m). Adjusted EBITDA declined by 25 per cent to MYR55.5m (US$1.3m), mainly due to expected higher operating and payroll-related expenses.<\/p>\n\n\n\n

In the United States and the Bahamas, revenue declined by 3 per cent to MYR501.3m (US$501.3m) due to the strengthening of the ringgit against the US dollar. Adjusted EBITDA declined by 22 per cent to MYR119.0m (US$28m).<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Sands China to redeem US$1.80bn in senior unsecured notes<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Genting Malaysia has acquired the remaining 51 per cent of Empire Resorts shares.<\/p>\n","protected":false},"author":176,"featured_media":18062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia has completed the acquisition of the remaining 51% stake in Empire Resorts for US$41 million, consolidating its ownership of US gaming assets including Resorts World Catskills and Resorts World Bet. This transaction, which includes a US$40 million debt transfer, raises concerns among credit rating agencies regarding increased debt levels and ongoing financial support for Empire Resorts, despite Genting Malaysia's improved Q1 net profit.","focusai_entities":"Genting Malaysia, Empire Resorts, Kien Huat Realty III Limited, Lim family, Moody's, CreditSights, Genting Bhd, Sands China","focusai_location":"Malaysia, United States, New York, United Kingdom, Egypt, Bahamas","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.7), operator_casino (0.85), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Empire Resorts' path to profitability","query":"What specific operational and market strategies does Genting Malaysia intend to implement to transition Empire Resorts from its current loss-making position to profitability, and what is the projected timeline for this turnaround?"},{"label":"Debt structure implications","query":"How will the US$40 million debt transfer and the ongoing financial support for Empire Resorts impact Genting Malaysia's overall debt-to-equity ratio and its capacity for future capital expenditures or M&A activities?"}],"footnotes":""},"categories":[163,16333],"tags":[29,24619,19394],"class_list":["post-777027302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-casino","tag-finance","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777027302"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027302\/revisions"}],"predecessor-version":[{"id":777027333,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027302\/revisions\/777027333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777027302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777027302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777027302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}