Empire Resorts to Be Acquired by Kien Huat Realty

Paul, Weiss is representing the special committee of the board of directors of Empire Resorts, Inc. in its acquisition by Kien Huat Realty III Limited and Genting Malaysia Berhad for $9.74 in cash per share of common stock, and with each share of Empire Resorts’ Series B preferred stock receiving the same consideration on an as-converted to common stock basis. The purchase price represents a premium of approximately 15 percent over the closing share price of Empire Resorts' common stock on August 16, the last trading day prior to today's announcement. The transaction is expected to close in the fourth quarter of 2019.

The Paul, Weiss team includes corporate partners Jeffrey Marell, Raphael Russo and David Huntington and counsel Bruce Gruder, Frances Mi and Patricia Vaz de Almeida; litigation partners Geoffrey Chepiga and Aidan Synnott; bankruptcy partners Elizabeth McColm and Brian Hermann and counsel Samuel Lovett and Sarah Harnett; real estate partner Harris Freidus; antitrust counsel Marta Kelly; tax counsel Todd Hatcher; international trade counsel Richard Elliott; and environmental counsel William O’Brien.