Casino Information – Resorts World Catskills In Problem, No Casinos For Chicago, Tricky Rock Las Vegas Closing For Renos
This week’s casino news starts us of in upstate New York where one of many many luxurious, innovative casinos is on the verge of bankruptcy. Can the Resorts World Catskills be saved still?
Resorts World Catskills On Verge Of Bankruptcy
The upstate casino that is largest in ny is reportedly in the verge of bankruptcy carrying out a few years by which it had been unable to generate profits. According to the report, the Resorts World Catskills was hit with a $36 million loss in the final quarter. The business is seriously considering bankruptcy that is claiming an effort to square away its debts.
The casino’s shareholder that is largest, the Genting Group, has put forward a proposition to buy out the remaining shares of the company from the parent business Empire Resorts. According to an SEC filing by the company that is publicly-traded the $1 billion casino in Monticello suffered operating losses of $73.5 million through the end of June. If Empire Resorts does not take the cope with the Genting Group, it might likely need to apply for Chapter11 bankruptcy to be able to negotiate its debts with creditors.
After projecting $300 million in revenue for 2019, the Resorts World Catskills happens to be on pace to fall almost $100 million quick of that mark. It will be interesting to see what route the Genting Group decides to take continue following stunning financi Sigue leyendo