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Casino News – Resorts World Catskills In Problem, No Casinos For Chicago, Tough Rock Vegas Closing For Renos

January 8, 2020 TopSlots  No comments

Casino News – Resorts World Catskills In Problem, No Casinos For Chicago, Tough Rock Vegas Closing For Renos

This week’s casino news starts us of in upstate New York where among the most lavish, innovative casinos is on the verge of bankruptcy. Can the Resorts World Catskills be saved still?

Resorts World Catskills On Verge Of Bankruptcy

The largest upstate casino in New York is reportedly in the verge of bankruptcy adhering to a year or two by which it was unable to generate profits. Based on the report, the Resorts World Catskills was hit with a $36 million loss in the last quarter. The business is seriously considering bankruptcy that is claiming an effort to square away its debts.

The casino’s largest online pokies real money in australia shareholder, the Genting Group, has put forward a proposition to buy out the staying shares regarding the company from the parent business Empire Resorts. According to an SEC filing by the publicly-traded business, the $1 billion casino in Monticello suffered operating losses of $73.5 million through the conclusion of June. If Empire Resorts does not take the handle the Genting Group, it would likely need to file for Chapter11 bankruptcy to be able to negotiate its debts with creditors.

After projecting $300 million in revenue for 2019, the Resorts World Catskills is on pace to fall almost $100 million brief of that mark. It will be interesting to see what route the Genting Group decides to take continue following stunning financial revelations.

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