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Genting Malaysia buys stake in U.S.-listed Empire Resorts for about $129 million

(Reuters) - Casino and resorts operator Genting Malaysia (GENM.KL) said on Tuesday its U.S. unit bought about 13.2 million shares in Empire Resorts Inc (NYNY.O) from its largest shareholder, Kien Huat Realty III Ltd, for about $128.6 million.

Genting said the Empire shares were bought at $9.74 a share, sthe same as what it had offered to pay for a 46% stake held by Kien Huat in August. Genting had proposed to acquire and privatize Empire at the time.

Following the acquisition, Genting (USA) now holds a 38.3% stake in Empire.