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NYNY - Empire Resorts, Inc.
Empire
Resorts, Inc. competes with other gaming and resort companies, such as
Las Vegas Sands Corp, MGM Resorts International, and Wynn Resorts,
Ltd. In terms of market share, Empire Resorts, Inc. is a relatively
small player compared to these larger competitors.
In 2019,
Empire Resorts, Inc. announced that it had entered into a merger
agreement with Kien Huat Realty III Limited, a company controlled by
Genting Malaysia Berhad, a gaming and resort company based in
Malaysia. Under the terms of the agreement, Kien Huat Realty III
Limited would acquire all outstanding shares of Empire Resorts, Inc.
for $9.74 per share. The merger was completed in December 2019, and
Empire Resorts, Inc. became a privately held company.
In 2020,
Empire Resorts, Inc. was affected by the COVID-19 pandemic, which led
to the closure of its casino and resort for several months. The
company implemented cost-cutting measures to mitigate the impact of
the pandemic on its financial performance.
Overall, Empire
Resorts, Inc. has faced challenges in the highly competitive gaming
and resort industry. The company's merger with Genting Malaysia Berhad
may provide new opportunities for growth, but the impact of the
COVID-19 pandemic on the gaming industry remains a challenge for the
company and its c
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