GenM to take up stake in Empire Resorts

TheStar Tue, Dec 06, 2022 08:30am - 1 year View Original


KUALA LUMPUR: Genting Malaysia Bhd’s (GenM) indirect wholly-owned subsidiary, Genting ER II LLC (GER II) has entered into a share purchase agreement with Kien Huat Realty III Ltd (KH) to purchase the entire 1,510 Series F convertible preferred stock of Empire Resorts Inc (Series F) for US$100mil (RM438.5mil).

Empire is a Delaware corporation incorporated on March 19, 1993 with various subsidiaries engaged in hospitality and gaming.

In a filing with Bursa Malaysia, GenM said, with the proposed Series F acquisition, it would have invested a total of up to US$624.4mil (RM2.74bil) in Empire.

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