“The proposed equity injection will also allow Genting Malaysia to reinforce its position and grow its market presence in the New York State gaming market by leveraging synergies between Resorts World New York and Resorts World Catskills,” Genting Malaysia said. In response, Fitch upgraded its credit rating for Empire by one level to B+ and raised the outlook for company to stable from negative. Last week, Genting Malaysia announced that it had injected another $150 million of equity into Empire Resorts, which owns and operates Resorts World Catskills and Monticello Raceway, both in Sullivan County, New York.įorbes magazine reported that the company, controlled by billionaire Lim Kok Thay, will use the funds to repay Empire’s existing debts of about $365 million amid signs of recovery in the U.S.