Catskills Casino $561 Million Muni Deal Shelved Until 2026 (2)

Genting Group’s plan to sell the hotel and other non-casino assets at its Resorts World Catskills site to a government development corporation in New York’s Sullivan County has been put on hold until early January, again delaying a $561 million municipal bond sale.

The transaction is being postponed because Genting Bhd has proposed buying out investors in its Genting Malaysia subsidiary and can’t enter into other material transactions in the meantime, Walter Bogumil, chief financial officer of Resorts World US, said in a letter that was read at a meeting of the Sullivan County Resorts Facilities Local Development ...