MGM Yonkers Inc, a subsidiary of MGM Resorts International, has applied for a commercial casino licence to the New York Gaming Commission and the Gaming Facility Location Board, the parent firm confirmed in a Thursday announcement.
The US$2.3 billion bid proposes to transform the group’s Empire City Casino site into a “commercial casino and entertainment destination,” stated MGM Resorts. The company is also the parent of Macau casino concessionaire MGM China Holdings Ltd.
“If MGM Yonkers is awarded a commercial casino licence, it anticipates completing all project elements by mid-2029,” stated MGM Resorts.
“The development plans have been thoughtfully curated to achieve the maximum benefits for the state of New York, city of Yonkers and surrounding counties, while also meeting the needs of the local community,” it added.
According to the press release, MGM Yonkers’ plans include “the full renovation and expansion of Empire City Casino’s existing gaming areas, an expansive high-limit lounge and the addition of a state-of-the-art BetMGM Sportsbook offering retail sports betting”.
It also proposes developing a 5,000-seat entertainment venue and meeting space, “which will welcome a variety of A-list and local performances with the design flexibility to accommodate special events, local graduations and other community needs”.
The announcement cited Bill Hornbuckle, president and chief executive of MGM Resorts, as saying: “Empire City Casino and Yonkers Raceway have anchored the entertainment and tourism culture in downstate New York for more than a century.”
He added: “Achieving a full casino licence will ensure this site will continue to be a cultural and economic force for generations to come.”
The proposal suggested that if a commercial licence was awarded to Empire City, “20 percent of the generated tax revenue will be distributed with 10 percent directed to the City of Yonkers, 5 percent to Westchester County and 5 percent divided between Rockland and Putnam counties”.
Other highlights of MGM Yonkers’ application include investments to support public infrastructure in the City of Yonkers, New York’s third-largest city, including improvements to roads, water lines and traffic technology.
The state’s gaming commission launched in January 2023 a request for applications process for three casino licences in downstate New York. It outlined a US$1-billion minimum requirement for the licence fee and capital investment, with US$500 million payable within 30 days as the licence fee.
The relevant casino permits would be granted for a period of between 10 and 30 years, depending on the size of the investment pledged.
Large gaming operators with venues in Asia were among those that had previously expressed interest in bidding for a downstate New York licence, including Wynn Resorts Ltd, Las Vegas Sands Corp and Malaysia’s Genting group.
In May, Wynn Resorts said it would not take part in the bidding process for a licence in downstate New York. Rival casino operator Las Vegas Sands also dropped out of the race in April.
