Gaming Magnate KT Lim Doubles Down on Resorts World Catskills -Makes Proposal to Take Catskills Casino Private

MONTICELLO, N.Y., July 25, 2019 /PRNewswire/ -- Kien Huat, the family trust controlled by Genting Chairman KT Lim, filed paperwork today announcing the company's intent to acquire the remaining unaffiliated shares of Empire Resorts, the parent company of Resorts World Catskills.

Mr. Lim, who currently owns 86 percent of Empire Resorts, plans to immediately start discussions with potential financing sources to acquire all of the outstanding shares of the Company in order 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. 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," said Stefan Friedman, Spokesperson for Genting Chairman KT Lim.

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 an additional 300 jobs.

Friedman continued, "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, Resorts World Catskills offers guests unmatched experiences in excitement, entertainment, and luxury. The integrated casino resort includes an 18-story all-suite hotel and a casino and entertainment complex featuring 100,000 square feet of gaming action including 150 live Las-Vegas style table games, 2,150 state-of-the art slot machines, a poker room and private gaming salons.

The casino resort destination also offers more than 10 varied bar and restaurant experiences, which includes an Italian steakhouse created by celebrity chef Scott Conant, and year-round live entertainment at the 2,500-seat RW Epicenter, casino bars and lounges. The hotel features 332 luxury suites, including 27 premium accommodations consisting of garden suites, penthouse suites and two-story villas. Additional hotel amenities include the Crystal Life Spa, two indoor pools, and two fitness centers.

The destination resort in which Resorts World Catskills is located also includes an entertainment project providing additional entertainment, food and accommodations. A Rees Jones-redesigned golf course will also be added, and The Kartrite Hotel and Indoor Waterpark opened to the public in April.

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SOURCE Kien Huat