Summary
- In New York, top gaming and hospitality companies are vying for three new casino licenses.
- MGM Yonkers, a subsidiary of MGM Resorts, recently submitted its casino license application to the New York Gaming Commission and the Gaming Facility Location Board.
- If MGM secures one of the three licenses, it plans to enhance its gaming options at Empire City Casino and introduce significant improvements as part of its $2.3 billion proposal.
MGM Resorts International, a major player in gaming, hospitality, and entertainment across the United States, has announced that its subsidiary, MGM Yonkers, has submitted an application to operate a commercial casino in New York.
MGM Resorts' proposal to overhaul Empire City Casino has a $2.3bn price tag
Three new downstate casino licenses are available, and MGM Resorts is one of nearly a dozen gaming and entertainment companies vying for one. Unlike its competitors who are planning new developments, MGM Resorts aims to revamp its historic Empire City Casino. According to a newly submitted application with the New York Gaming Commission and the Gaming Facility Location Board, the redevelopment will cost $2.3 billion. Should MGM Resorts secure one of these coveted licenses and redevelop Empire City Casino, it is expected to become a premier commercial casino and entertainment venue. The project is anticipated to generate thousands of direct and indirect jobs, thereby stimulating economic growth in the region. Alongside the casino's transformation, MGM Resorts also plans to invest in supporting public infrastructure in the City of Yonkers, focusing on traffic, water lines, and road improvements. Bill Hornbuckle, CEO and President of MGM Resorts, remarked on the announcement: Empire City Casino and Yonkers Raceway have been key players in the entertainment and tourism sectors of downstate New York for more than a century. He added, Securing a full casino license will ensure this site remains a cultural and economic powerhouse for generations to come.
The company plans to expand the venue's gaming floor, bring additional amenities
MGM Resorts plans to expand and renovate Empire City Casino's gaming area, as detailed in a recent application. The renovation will include a new high-limit lounge and a cutting-edge BetMGM Sportsbook. Additionally, the casino will introduce a new entertainment venue and meeting space, accommodating up to 5,000 guests for concerts, graduations, and other special events. MGM Resorts also intends to open three new full-service restaurants and update the existing food and beverage facilities at Empire City Casino, aiming to enhance customer experiences at the popular gaming and entertainment spot. Significantly, the application outlines how the Empire City Casino refurbishment will stimulate the economy by generating new jobs and applying a revenue-sharing model that benefits Yonkers. According to MGM Resorts' proposal, if the casino obtains a license, Yonkers will receive 10% of the tax revenue generated, Westchester County will get 5%, and Rockland and Putnam counties will share another 5%. If MGM Resorts secures the necessary license, the overhaul of Empire City Casino is expected to be completed by mid-2029.
