A Sullivan County development corporation created to help facilitate a proposed $585 million Resorts World Catskills financing deal has voted to dissolve after the casino operator pursued another financing option, according to reporting from the Sullivan County Democrat.

The Sullivan County Resort Facilities Local Development Corporation approved its dissolution during an Oct. 19 meeting following the Sullivan County Industrial Development Agency’s regular session.

The Sullivan County Legislature created the corporation in April 2025. Its main purpose was to help facilitate a bond transaction involving Resorts World’s non-gaming properties at the Adelaar resort in the Town of Thompson, including the hotel and golf course.

That financing deal never closed.

“The Resort Facilities LDC was created for the specific purpose of facilitating the bond transaction with Resorts World,” IDA Executive Director Jennifer Flad told the Democrat. “That bond transaction is not going to happen, so there’s no longer a need or purpose for that entity to exist.”

In July, Empire Resorts completed an approximately $300 million refinancing of secured notes due in November 2026, eliminating the need for the proposed LDC bond transaction.

According to the Democrat, Resorts World is responsible for project-related expenses generated during the planning process.

Under the dissolution plan, remaining funds will first be used to cover closing expenses. Any money left over will be transferred to Sullivan County, which is the corporation’s sole member.

Flad said dissolving the corporation will not affect Resorts World’s existing agreements with the IDA or separate infrastructure financing arrangements at Adelaar.

Radio Catskill contacted Resorts World Catskills and the Sullivan County Industrial Development Agency for additional comment, but did not receive responses from either before publication.