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Genting Group’s Empire Resorts Buyout Draws Early Challenges

Nov. 13, 2019, 9:10 PM

Empire Resorts Inc. was hit with a trio of Delaware lawsuits mounting preliminary challenges to its planned go-private buyout by the Malaysian consortium that already owns 86% of the casino and raceway operator.

Empire is a NASDAQ-traded holding company that runs the Resort World Catskills casino and Monticello Raceway in upstate New York. The $9.74-a-share deal, which was set for a Nov. 13 shareholder vote, would leave Empire wholly owned by Kien Huat Realty III Ltd. and its Genting Group affiliate. Kien Huat is a diversified multinational conglomerate based in Kuala Lumpur. Genting owns more than 40 casinos worldwide.

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