Unless otherwise stated, the exchange rate of USD1.00: RM4.3170 being Bank Negara Malaysia’s middle rate as at 5.00 p.m. on 30 April 2025, is used throughout this announcement for purpose of translation of USD into RM.

The Board of Directors of GENM (“Board”) refers to GENM’s announcements dated 6 August 2019, 15 August 2019, 20 August 2019, 5 November 2019, 14 November 2019 and 18 November 2019 (collectively, “Announcements”) in respect of the Proposed Transactions. On 19 March 2020, GENM had announced the issuance of up to USD40 million of Series G Preferred Stock of Empire Resorts Inc. (“Empire”) (“Series G”). On 11 September 2020, 19 March 2021 and 12 October 2021, GENM had announced the issuance of up to USD150 million, USD20 million and USD150 million of Series L Preferred Stock of Empire respectively (“Series L”), and on 10 January 2024, GENM had announced the issuance of up to USD100 million of Series M Preferred Stock of Empire (collectively, “Equity Injection Announcements”). On 5 December 2022, GENM announced its acquisition of Empire’s entire 1,510 Series F Convertible Preferred Stock from Kien Huat Realty III Limited (“KH”) for a total consideration of USD100 million (“Series F Acquisition Announcement”). The definitions used throughout this announcement, unless stated otherwise, shall have the same meaning(s) as those used in the Announcements, Equity Injection Announcements and the Series F Acquisition Announcement.

The Board wishes to announce that GENM’s indirect wholly-owned subsidiary, Genting ER Limited (“Genting ER Limited”), an Isle of Man incorporated entity, had on 1 May 2025 (United States Eastern date/time) entered into a Membership Interest Purchase Agreement with KH to acquire the remaining 51% membership interest in GERL from KH and concurrently, to accept the assignment of the intercompany loan owing by Empire to KH  amounting to USD39.7 million (including accrued interest), collectively for a total cash consideration of USD41.0 million (or approximately RM177.0 million) (“Purchase Consideration”) (“Proposed Acquisition”).

For further details, please refer to the attachment.

This announcement is dated 2 May 2025.