MGM New York City Bid for Full Casino License Backed by Yonkers Mayor
MGM Resorts is in a competitive bidding environment for the three downstate New York casino licenses that include slot machines, live dealer table games, and sports betting rights.
In 2019, MGM bought Empire City Casino and Yonkers Raceway for $850 million. The acquisition was mainly regarded as MGM’s strategy to enhance its chances of securing one of New York’s three downstate gaming licenses that became available in 2023 after a decade-long pause.
In his State of the City speech last week, Yonkers Mayor Mike Spano (D) urged residents to support MGM's proposal, which involves the casino firm spending billions to transform the site into a Las Vegas-style destination. Alongside increased tax revenue and jobs, Spano stated that if Empire City fails to obtain a full gaming license, the positions of over 1,000 employees currently at the video lottery racino would be at risk.
"If Yonkers does not get a full gaming license, and it’s allowed to go to other locations in the New York City area, then unfortunately it’s very unlikely that Empire City will survive long-term,” said Spano.
Spano has been the mayor of Yonkers since January 2012. Spano, who was a Republican until 2007, is a lifelong resident of Yonkers and is wed to CBS anchor Mary Calvi.
Destination: Yonkers
Spano’s State of the City emphasized the ongoing goal of developing the Yonkers economy by turning the Westchester County city directly north of the Bronx into a tourist hotspot.
“No longer is Yonkers a pass-through to New York City or upstate,” Spano declared.
The New York Gaming Facility Location Board will soon start its bidding phase and commence evaluating submissions. The Board's existing schedule sets a deadline of December 1, 2025, for the announcement of the winners.
Spano states that securing one of the sought-after casino concessions is vital for Yonkers' future prospects.
“A full gaming license … means more than $1 billion in economic activity and $2 billion in private investment. It means thousands of jobs and more than $200 million in additional wages,” Spano said.
Empire City Casino Perspective
Empire City Casino, currently referred to as a racino by MGM Resorts, would rebrand as MGM Empire City after obtaining a full-scale gaming permit and finishing the $2 billion renovation. Alongside renovating the gaming area, MGM's strategy features a 5,000-seat entertainment facility.
"MGM Resorts has a long and proud history of delivering world-class entertainment and gaming experiences, and we couldn’t be more excited to build on that track record at MGM Empire City,” said Bill Hornbuckle, MGM Resorts president and chief executive officer. “A full-scale casino and entertainment destination will provide unparalleled experiences, create thousands of jobs, boost the state’s economy, and be a game-changer for the entire region.”
Extra features would involve building a new parking garage "to greatly improve the guest arrival experience while also offering visitors direct and easy access to the casino."
