MGM launches Empire City renovation plan, hopes to obtain New York casino license
MGM Resorts International on Wednesday unveiled the company's vision for its Empire City casino, which would offer slot machines, table games and sports betting privileges if the hotel were to win one of three New York state gaming franchises.
MGM said in a statement Wednesday that it would revolutionize Empire City if it were to receive a formal casino license from the state. The project will include expanding the hotel's gaming space and creating a 5,000-seat venue for Yonkers.
A BetMGM sportsbook, celebrity chef restaurants, cocktail bars and lounges and state-of-the-art conference facilities will also be included.
MGM Resorts has a long and proud history of delivering world-class entertainment and gaming experiences, and we are extremely excited to continue that record at MGM Empire City. "An integrated casino and entertainment destination will provide an unparalleled experience, create thousands of jobs and boost the state's economy," said Bill Hornbuckle, MGM President and CEO. and vital to the entire region. "
Empire City is currently a video lottery terminal. MGM acquired the property for $850 million in 2019, hoping to one day transform the speedway into a Las Vegas-style casino resort. That day may come soon.
New York Casino Favorites
The New York Gaming Facilities Site Commission will begin submitting applications next year for the three downstate casino licenses it needs to issue.
Gambling licenses are authorized by a state law passed in 2013. The gambling expansion includes a ten-year moratorium on in-state licenses to allow the four upstate casinos authorized in the legislation to open without competition from the Western New York City area.
Empire City and Resorts World New York, another VLT provider, are considered frontrunners for the two casino licenses. Nine more deals are being prepared by leading casino giants, including Las Vegas Sands on Long Island, Caesars Entertainment in Times Square, Hard Rock International in Queens and Wynn Resorts at Hudson Yards.
The unveiling of the Empire City site didn't create much of a stir if MGM won the franchise for one of its casinos. The details are pretty bad too.
Unlike other proposals that promise to develop unique attractions and community benefits like affordable housing, MGM has only said that a full-service casino would increase jobs and raise taxes in Yonkers.
"Empire City is Yonkers' largest taxpayer and one of the largest private employers. Future development plans will significantly increase the workforce, directly employing thousands of employees and is expected to provide more than 10,000 indirect and induced jobs. The hotel Tens of millions of dollars are currently spent each year on local goods and services, keeping New York dollars in the state,” an MGM statement said.
Casino Expansion
Empire City is the largest amusement park in MGM's U.S. portfolio. The 15,000-square-foot racing facility currently offers 4,600 VLT and electronic table gaming positions.
After receiving the casino license, MGM said it would continue to expand its Empire City casino footprint but did not specify how many slot machines and table games it would offer.
The one-time fee for casino licenses is $500 million per state. Winning companies must invest at least an additional $500 million in resort projects.
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Source: www.casino.org
