KT Lim Is Planning to Take Resorts World Catskills Casino Private

Kien Huat, the family trust controlled by Genting chairman KT Lim, has announced its intention to take Resorts World Catskills private.

The resolution came shortly after filing paperwork outlining the intent to acquire the remaining und shares of Empire Resorts.

A gaming magnate, who currently owns 86% of the organization, sent a letter to the special committee of the property’s board of directors. Via the letter, the controlling stakeholder expressed a strong belief that this venture will “ensure a bright future” for the entity.

Acquiring All Shares Will Protect Workplaces:

Resorts World Catskills is the Sullivan County’s largest employer, with more than 1,600 employees working in its various sectors.

In order to protect the union jobs that have been created at the facility…

… Lim has stated that he plans to start discussions with potential financing sources to acquire all of the Empire Resorts shares of the company.

This will be also very beneficial for meeting increasing economic challenges.

Furthermore…

… Lim and Kien Huat plan to potentially expand operations into Orange County, creating an additional 300 jobs.

“Today’s announcement reaffirms Mr. Lim’s strong commitment to Resorts World Catskills. We strongly believe that taking the company private will result in greater efficiencies and a bright future for Resorts World Catskills, and Sullivan and Orange Counties.

This is a natural next step for Mr. Lim to take on a larger role in leading Resorts World Catskills as it enters this next chapter. Mr. Lim strongly believes in the long-term potential of Resorts World Casino Catskills,” explained Stefan Friedman, a spokesperson for Genting chairman, Lim.

About Resorts World Catskills

Settled in the heart of the Catskill region in New York, this resort provides its guests superb entertainment and luxury experience.

This integrated casino includes 18-story-all-suite hotel, along with 100,000 square feet of gambling and entertainment area.

Catskills offers gaming experience with a variety of exciting playing options:

• 150 live Las-Vegas style table games
• 1,600 state-of-the-art slot machines
• Private gaming salons
• Poker room

The venue also features more than 10 bars and restaurants, providing an excellent dining experience. Amongst them is the Italian steakhouse, “Cellaio Steak,” by famous celebrity chef, Scott Conant.

Live entertainment takes place at the 2,500-seat RW Epicenter, casino bars, and lounges throughout the entire year.

The resort opened its doors in 1993. More than two and a half decades later, it stands proud as one of the most popular places for both gamblers, and those who just want to enjoy its luxurious hotel service and following contents.

To this day, it is one of the biggest employers in the region and very important to the community.

Besides being a wonderful place of leisure and entertainment…

… it is a big source of partnerships, business opportunities and collaboration meaningful for the region.

Source:

“KT Lim details proposal to take Catskills casino private”, casinobeats.com, July 26, 2019.