Kien Huat and Genting Malaysia Berhad to acquire Empire Resorts.

Kien Huat and Genting Malaysia Berhad to acquire Empire Resorts, a company that owns the Monticello Raceway racino in the Catskill Mountains 90 miles from New York City. Kien Huat currently owns approximately 86% of Empire Resorts, and in connection with the proposed acquisition, Genting Malaysia Berhad has agreed to acquire approximately 38% of Kien Huat’s interest in Empire Resorts. "We are pleased to reach this agreement and provide immediate certain cash value to our stockholders," said Keith Horn, independent director of Empire Resorts and chair of the special committee. "Kien Huat has been a true partner for Empire Resorts, and we look forward to welcoming Genting Malaysia into our ongoing relationship. With Kien Huat and Genting Malaysia, we will be part of an extensive and attractive organization with enhanced scale and global reach. Importantly, Kien Huat has agreed to provide incremental credit support to Empire Resorts, which will enable the Company to meet its debt obligations as we continue to execute on our business strategy."