Kien Huat, the family trust controlled by Genting Chairman KT Lim, has filed intentions to acquire the remaining unaffiliated shares of Empire Resorts, the parent company of Resorts World Catskills.
Lim, who currently owns 86% of Empire Resorts, aims to initiate discussions with potential financiers to acquire all of the outstanding shares of the company in order, according to a statement, to protect the thousands of union jobs that the company has created at the facility and meet the economic challenges that have emerged.
“Today’s announcement reaffirms Mr Lim’s strong commitment to Resorts World Catskills,” said Stefan Friedman, spokesperson for Lim. “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.”
In addition to protecting the 1,600 jobs currently at Resorts World Catskills, Sullivan County’s largest employer, KT Lim and Kien Huat plan to potentially expand operations into Orange County, creating a further 300 jobs.
Friedman added: “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 Word Casino Catskills.”
Located in the heart of New York’s Catskills region, the integrated casino resort includes an 18-story all-suite hotel and a casino and entertainment complex featuring 100,000 square feet of gaming space including 150 live Las-Vegas style table games, 2,150 state-of-the art slot machines, a poker room and private gaming salons.
