Genting Malaysia has completed its full acquisition of New York-based Empire Resorts Inc., consolidating 100% ownership in a move that signals long-term commitment to the U.S. gaming market—despite persistent financial headwinds.
Genting`s Miami land start biding to be sell them for 1.5Billion
Finalized on May 31, 2025, the $41 million deal gives Genting control of all Empire Resorts operations, including Resorts World Catskills, Resorts World Hudson Valley, and Resorts World Bet, the group’s mobile sportsbook platform. As part of the acquisition, Genting also assumed $40 million in debt previously owed to Kien Huat Realty III, the Lim family’s private investment firm.
Genting Malaysia’s full Empire Resorts takeover draws credit warnings from Moody’s, CreditSights
Until now, Genting held a 49% equity stake but was already shouldering nearly 90% of Empire’s financial exposure through preferred stock. With this acquisition, the group has fully absorbed Empire’s books—a risky play given that Empire has not turned a profit since 2019, despite Genting injecting more than $720 million into the company.
The financial community isn’t convinced. Analysts at Nomura called the deal “credit negative,” and both Moody’s and CreditSights raised red flags over the absence of a viable turnaround plan.
Genting Malaysia’s recent quarterly report added to the concern, with a 6% group revenue drop and a 7% decline at Resorts World Genting in Malaysia. While Genting gains total control in a key U.S. market, the acquisition raises the stakes—and the pressure. In a tightening global gaming economy, full control may not guarantee a winning hand.
