Empire Resorts (NYNY) approached by Kien Huat Realty III Limited (KH)

  • August 6, 2019

POTENTIAL DEAL DETAILS

Stock Empire Resorts, Inc. Symbol NYNY
Date Announced 08/06/2019 Source Press release
Type Unsolicited Bid Acquiring Company/Person Kien Huat Realty III Limited and Genting Malaysia Berhad
Date of Confirmation: 08/19/2019 Price at Confirmation: $9.73
Potential Profit: 4.85% Annualized Profit: 136.15%

Empire Resorts, Inc. (NYNY), today confirmed that the special committee of its board of directors has received an unsolicited proposal from Kien Huat Realty III Limited (“KH”), the holder of approximately 86% of Empire Resorts’ outstanding shares of common stock. KH is proposing to acquire all of the outstanding equity of the Company not currently owned by KH or its affiliates

Update(s):

August 19, 2019: Empire Resorts, Inc. (NYNY) today announced a definitive agreement under which affiliates of Kien Huat Realty III Limited and Genting Malaysia Berhad  will acquire all of the outstanding equity of the Company not currently owned by Kien Huat.

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