{"id":777030479,"date":"2025-08-18T08:33:00","date_gmt":"2025-08-18T11:33:00","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777030479"},"modified":"2026-04-21T20:01:50","modified_gmt":"2026-04-21T23:01:50","slug":"genting-malaysia-to-restructure-its-wholly-owned-subsidiary-empire-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-to-restructure-its-wholly-owned-subsidiary-empire-resorts","title":{"rendered":"Genting Malaysia to restructure Empire Resorts"},"content":{"rendered":"\n

Empire will sell a portfolio of non-gaming assets at its Resorts World Catskills property in New York.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Malaysia<\/strong> has announced a proposal to restructure its wholly owned subsidiary, Empire Resorts<\/a>. The plan includes the sale of non-gaming assets<\/strong> in New York, including Resorts World Catskills\u2019 332-room hotel, Alder Hotel, the Monster Golf Course, RWC Epicenter and several restaurants to Sullivan County Resort Facilities Local Development Corporation (SCRFLDC) for US$525m. <\/p>\n\n\n\n

Empire will lease back the land until 2066<\/strong> and manage the facilities under a 20-year agreement, renewable for two additional five-year periods. In a stock exchange filing, Genting said proceeds from the sale will be used to buy 1,554 acres of land from real estate trust EPR Properties <\/strong>for US$201.3m, to redeem Empire\u2019s outstanding US$300m senior unsecured notes due 2026, and to provide about US$10m in surplus working capital.<\/p>\n\n\n\n

Genting Malaysia\u2019s 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\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Galaxy Entertainment appoints new company secretary<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Empire will sell a portfolio of non-gaming assets at its Resorts World Catskills property in New York.<\/p>\n","protected":false},"author":226,"featured_media":777030482,"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's subsidiary, Empire Resorts, is undertaking a significant restructuring by selling a portfolio of non-gaming assets at its Resorts World Catskills property for US$525m to Sullivan County Resort Facilities Local Development Corporation. The proceeds will be strategically deployed for land acquisition, redemption of US$300m in senior unsecured notes, and to bolster working capital, while Empire will retain operational control through a long-term lease-back agreement.","focusai_entities":"Empire Resorts, Genting Malaysia, Resorts World Catskills, Sullivan County Resort Facilities Local Development Corporation, EPR Properties","focusai_location":"New York, Malaysia, Catskills, Sullivan County","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Lease-back implications?","query":"What are the long-term implications of this lease-back arrangement on Empire Resorts' operational flexibility, capital expenditure requirements, and overall profitability margins, particularly concerning non-gaming revenue streams?"},{"label":"Capital deployment strategy?","query":"How will the US$10m in surplus working capital be strategically deployed to enhance Empire Resorts' core gaming operations and drive GGR\/NGR growth within the competitive New York market?"}],"footnotes":""},"categories":[157,16338],"tags":[29,24619,19394],"class_list":["post-777030479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-casino","tag-finance","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030479","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777030479"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030479\/revisions"}],"predecessor-version":[{"id":777030486,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030479\/revisions\/777030486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777030482"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777030479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777030479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777030479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}