The planned sale of the non-gaming assets of New York state’s Resorts World Catskills (RWC) casino-resort could boost Genting Malaysia’s 2026 earnings by as much as 24%, said Maybank Investment bank in a Monday note.
As reported by IAG, Genting Malaysia’s wholly-owned subsidiary Empire Resorts is planning to sell the 332-room RWC hotel, 99-room Alder Hotel, 18-hole Monster Golf Course, 2,500-seat RWC Epicenter and multiple restaurants to Sullivan County Resort Facilities Local Development Corporation (SCRFLDC) for a cash consideration of US$525 million.
It will then purchase 1,554.6 acres of land parcels – including those associated with RWC – from real estate investment trust EPR Properties for US$201.3 million and enter into a 20-year management agreement with SCRFLDC to manage all of the non-gaming assets.
