MGM approved for Empire City, Yonkers takeover

MGM Resorts has actually had its eye on Empire City Casino and the Yonkers Raceway for some time and also had actually hoped to skilled its $850-million acquisition of the places previously this month. Nevertheless, the New York Gaming Commission (NYGC) postponed offering a ruling on the matter without indicating when a follow-up conference may be held. It has currently obviously held that conference, because MGM is now the honored proprietor of both centers.

According to a report by USA Today, the NYGC accepted the deal yesterday. The commission authorized a set of licenses that will certainly allow MGM to move on with the purchase, which will see the Rooney family lose control of the operations.

The NYGC wasn’t exactly long-winded in revealing the certificate approvals. The board offered no additional comments, apart from to give thanks to the Rooneys for their service as well as acknowledging that MGM will have the ability to operate both venues– one, a video-lottery terminal and also the other, a harness track– succeeding to the last purchase of the procedures, which is expected to occur today.

Empire City was included in Yonkers Raceway in 2006. Seven years later, the facility was upgraded to supply more services and, in 2017, started seeking backers to aid it compete with Resorts World Catskills, which it saw as a prospective risk as it would open its doors in March 2018. MGM after that announced last May that it was interested in buying the residential or commercial property, which had been owned by the Rooney family since 1972.

According to a statement by MGM, “We appreciate the work of the New York Gaming Commission and the approval of our license. “We couldn’t be more excited to become part of the Yonkers community and welcome Empire City’s 1,200 team members to the MGM Resorts family. MGM is looking forward to bringing another world-class entertainment destination to the Northeast.”

With 5,300 gaming machines as well as the biggest harness track in New york, the venue is most likely about to obtain a large upgrade. MGM is expected to include a resort, an entertainment location and also other amenities, yet has actually not yet suggested specifically what might be in shop. The venue will reportedly be overseen by current MGM executive Uri Clinton, serving as both president and COO.

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