Genting Malaysia agrees to buy remaining Empire Resorts interest for $41 million
Genting Malaysia announced that it will acquire the remaining 10% economic interest in Empire Resorts from a trust belonging to its chairman and chief executive for $41 million. It will also assume a $39.7 million intercompany loan, with completion expected by the end of Q2 2025; Maybank estimates the added exposure will reduce core net profit by 2% to 4% across FY2025 to FY2027.
The transaction changes Genting Malaysia’s ownership and accounting exposure to Empire Resorts, with Maybank forecasting a profit impact and higher gearing.