There are six bids left for the three downstate casino licenses in New York, including MGM Empire City. The $2.3 billion proposal will be put to a vote by the local Community Advisory Committee next week, which will determine the project's destiny.
Caesars Palace Times Square and The Avenir were both rejected by their respective CACs this week, reducing the number of casinos in downstate New York City to just six. This only increases MGM Resorts International's chances of transforming its Empire City Casino into a full-fledged gaming destination with classic Las Vegas-style slot machines, live-dealer table games, and retail sports betting. MGM Resorts International has long been the front-runner for one of the licenses.
There have been four meetings of the MGM Empire City Community Advisory Committee. The five-person panel will decide on the project during their fifth meeting, which is set for next Thursday, September 25. A three-fifths majority, or three of the five votes, is required for the bid to move on to the New York Gaming Facility Location Board, the state body that will ultimately decide where New York's downstate casinos would operate.
MGM's effort in Yonkers has largely been positively received, despite the fact that numerous downstate New York casino bids have encountered local opposition from communities and government authorities. Empire City, a racino with electronic table games and slot-like video lottery terminals (VLTs), has been in Yonkers for almost twenty years.
The Rooney family sold the Westchester County property to MGM in January 2019 for $850 million in stock and cash. The goal of the acquisition was to provide MGM with a competitive advantage when applying for a full-scale gaming license in the New York City metro region.
State legislation permitted the three casinos in 2013, but licenses could not be granted prior to 2023. Four upstate casinos in New York were permitted to open during the ten-year prohibition without facing competition from downstate establishments.
For over five years, MGM has been a solid community partner for Yonkers and Westchester County. Through its gambling profits, the casino corporation has donated $1.6 billion to the state's education fund since taking over.
The MGM plan has the approval of Yonkers Mayor Mike Spano, whose office has a seat on the CAC. According to Spano, "it's very unlikely that Empire City will survive long-term" if a full-scale casino license isn't granted.
That would jeopardize millions of local tax revenues and related economic activity, as well as the more than 1,000 employment that Empire City already offers.
MGM claims it would start a $2.3 billion transformational overhaul of the racetrack casino after obtaining a full-scale casino license. The casino floor would be completely renovated and expanded to include BetMGM Sportsbook and a high-limit lounge. Under the plan, the facility would contain meeting rooms and a 5,000-seat entertainment arena that could be used for major occasions like local graduations.
The existing food and beverage venues would be renovated, and three new full-service restaurants would be built. Another feature would be an electric vehicle parking garage equipped with solar energy arrays.
"Empire City Casino and Yonkers Raceway have anchored the entertainment and tourism culture in downstate New York for more than a century. Achieving a full casino license will ensure this site will continue to be a cultural and economic force for generations to come,” said Bill Hornbuckle, president and CEO of MGM Resorts.
MGM believes it might finish the $2.3 billion project by the middle of 2029.
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