MGM YONKERS SUBMITS COMMERCIAL CASINO LICENSE APPLICATION IN NEW YORK
MGM Resorts (NYSE: MGM) has submitted a commercial casino license application to transform its Empire City Casino in Yonkers, New York, with a $2.3 billion investment plan. The proposal includes renovating gaming areas, adding a BetMGM Sportsbook, and constructing a 5,000-capacity entertainment venue.
The development, targeted for completion by mid-2029, features three new restaurants, a parking garage with solar arrays, and EV charging stations. Since 2006, Empire City Casino has generated over $5 billion for New York State education, with $1.6 billion contributed since MGM's 2019 acquisition. If approved, the project will create thousands of jobs and distribute 20% of tax revenue among local governments.
MGM Resorts (NYSE: MGM) ha presentato una domanda per una licenza commerciale per casinò al fine di trasformare il suo Empire City Casino a Yonkers, New York, con un piano di investimento da 2,3 miliardi di dollari. La proposta prevede la ristrutturazione delle aree gioco, l'aggiunta di un BetMGM Sportsbook e la costruzione di una struttura per eventi con capienza di 5.000 persone.
Lo sviluppo, previsto per essere completato entro la metà del 2029, includerà tre nuovi ristoranti, un parcheggio con pannelli solari e stazioni di ricarica per veicoli elettrici. Dal 2006, l'Empire City Casino ha generato oltre 5 miliardi di dollari per l'istruzione dello Stato di New York, di cui 1,6 miliardi da quando MGM l'ha acquisito nel 2019. Se approvato, il progetto creerà migliaia di posti di lavoro e distribuirà il 20% delle entrate fiscali ai governi locali.
MGM Resorts (NYSE: MGM) ha presentado una solicitud para una licencia comercial de casino con el fin de transformar su Empire City Casino en Yonkers, Nueva York, con un plan de inversión de 2.3 mil millones de dólares. La propuesta incluye renovar las áreas de juego, agregar una casa de apuestas BetMGM Sportsbook y construir un recinto para entretenimiento con capacidad para 5,000 personas.
El desarrollo, previsto para completarse a mediados de 2029, contará con tres nuevos restaurantes, un estacionamiento con paneles solares y estaciones de carga para vehículos eléctricos. Desde 2006, Empire City Casino ha generado más de 5 mil millones de dólares para la educación del estado de Nueva York, con 1.6 mil millones aportados desde la adquisición de MGM en 2019. Si se aprueba, el proyecto creará miles de empleos y distribuirá el 20% de los ingresos fiscales entre los gobiernos locales.
MGM 리조트 (NYSE: MGM)는 뉴욕 요커스에 위치한 엠파이어 시티 카지노를 23억 달러 투자 계획으로 변모시키기 위한 상업용 카지노 라이선스 신청서를 제출했습니다. 제안 내용에는 게임 구역 리노베이션, BetMGM 스포츠북 추가, 5,000석 규모의 엔터테인먼트 공간 건설이 포함되어 있습니다.
2029년 중반 완공을 목표로 하는 이 개발 프로젝트는 세 곳의 신규 레스토랑, 태양광 패널이 설치된 주차장, 전기차 충전소를 갖추게 됩니다. 2006년 이후 엠파이어 시티 카지노는 뉴욕 주 교육에 50억 달러 이상을 기여했으며, MGM이 2019년에 인수한 이후로는 16억 달러가 넘는 금액을 납부했습니다. 승인될 경우 이 프로젝트는 수천 개의 일자리를 창출하고 세금 수입의 20%를 지역 정부에 분배할 예정입니다.
MGM Resorts (NYSE : MGM) a déposé une demande de licence commerciale pour casino afin de transformer son Empire City Casino à Yonkers, New York, avec un plan d’investissement de 2,3 milliards de dollars. La proposition inclut la rénovation des espaces de jeu, l’ajout d’un BetMGM Sportsbook et la construction d’une salle de spectacle d’une capacité de 5 000 places.
Le développement, prévu pour être achevé d’ici la mi-2029, comprendra trois nouveaux restaurants, un parking équipé de panneaux solaires et des stations de recharge pour véhicules électriques. Depuis 2006, l’Empire City Casino a généré plus de 5 milliards de dollars pour l’éducation de l’État de New York, dont 1,6 milliard depuis l’acquisition par MGM en 2019. Si le projet est approuvé, il créera des milliers d’emplois et redistribuera 20 % des recettes fiscales aux gouvernements locaux.
MGM Resorts (NYSE: MGM) hat einen Antrag auf eine kommerzielle Casinolizenz gestellt, um sein Empire City Casino in Yonkers, New York, mit einem Investitionsplan von 2,3 Milliarden US-Dollar umzuwandeln. Der Vorschlag umfasst die Renovierung der Spielbereiche, die Hinzufügung eines BetMGM Sportsbook und den Bau einer Veranstaltungsstätte mit 5.000 Plätzen.
Die Fertigstellung des Projekts ist für Mitte 2029 geplant und beinhaltet drei neue Restaurants, eine Tiefgarage mit Solaranlagen sowie Ladestationen für Elektrofahrzeuge. Seit 2006 hat das Empire City Casino über 5 Milliarden US-Dollar für die Bildung im Bundesstaat New York generiert, davon 1,6 Milliarden seit der Übernahme durch MGM im Jahr 2019. Bei Genehmigung wird das Projekt tausende Arbeitsplätze schaffen und 20 % der Steuereinnahmen an die Kommunen verteilen.
- Significant $2.3 billion investment plan demonstrating strong commitment to the region
- Empire City Casino has generated over $5 billion for New York State education since 2006
- Project will create thousands of direct, induced, and indirect jobs
- 20% of tax revenue will be shared with local governments
- Integration of sustainable features including solar energy arrays and EV charging stations
- Extended timeline with project completion not expected until mid-2029
- License approval is not guaranteed despite significant investment proposal
Insights
MGM's $2.3B Yonkers casino license application represents significant revenue potential and strategic market expansion in NY's lucrative downstate region.
MGM's $2.3 billion commercial casino license application for Empire City represents a significant strategic expansion in the lucrative downstate New York market. If approved, this transformation would substantially upgrade the current property from a limited video lottery terminal facility to a full-scale commercial casino with expanded gaming areas, high-limit lounges, and sports betting capabilities.
The financial implications are substantial. Since 2006, Empire City has already generated $5 billion for New York State education, including $1.6 billion under MGM's ownership since 2019. A full casino license would dramatically increase tax revenue through the proposed revenue sharing formula, with 10% directed to Yonkers, 5% to Westchester County, and 5% split between Rockland and Putnam counties.
The mid-2029 completion timeline indicates a measured approach to this capital investment, allowing MGM to phase construction while maintaining operations. The 5,000-person entertainment venue would create a significant non-gaming revenue stream, diversifying income sources beyond traditional casino operations—a strategy increasingly important in mature gaming markets.
MGM is shrewdly positioning this project as both an economic engine (creating thousands of jobs) and community partner through infrastructure investments and sustainability initiatives. This public-private partnership approach has proven effective in securing gaming licenses in competitive jurisdictions, where demonstrating community benefit often weighs heavily in regulatory decisions.
Application highlights transformative vision for Empire City
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. The plan also envisions the addition of a 5,000 person maximum capacity entertainment venue and accompanying 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.
Additionally, three new full-service restaurants and the renovation of existing food and beverage venues will provide high-concept dining options for guests. A parking garage with solar energy arrays and electric vehicle parking spaces are among features that demonstrate MGM Resorts' strong commitment to sustainability. If MGM Yonkers is awarded a commercial casino license, it anticipates completing all project elements by mid-2029.
"Empire City Casino and Yonkers Raceway have anchored the entertainment and tourism culture in downstate
Empire City's role in the community and local economy
Since opening in October 2006, Empire City Casino has generated more than
MGM Yonkers' casino application details the significant financial benefit the
The proposal estimates the project will ultimately create thousands of direct, induced and indirect jobs through the new economic activity that the commercial casino license would generate for the region. MGM Resorts has a strong track record of being an employer of choice by providing career pathways, supporting higher education and prioritizing responsible business practices through programs like GameSense, an industry-leading responsible gaming educational tool.
Other highlights of MGM Yonkers' application include significant investments to support public infrastructure in the
ABOUT EMPIRE CITY CASINO BY MGM RESORTS
Empire City Casino by MGM Resorts is one of the largest entertainment and gaming destinations in the northeast. Featuring nearly 4,700 of the hottest slots, electronic three card poker, blackjack, craps, roulette, baccarat and sic bo table games, Empire City Casino also offers guests year-round harness racing and international simulcasting; live entertainment including the best party, tribute, and Latin bands;
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of
FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the Company's expectations regarding the amount of the investment in the project, the timing to complete the project elements, the scope of the design and expected amenities and the benefits the project may bring to the
MGM RESORTS CONTACT:
Krystal Webb
media@mgmresorts.com
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SOURCE MGM Resorts International
FAQ
What is the value of MGM's casino license application for Empire City Casino in Yonkers?
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How will tax revenue be distributed if MGM receives the Yonkers casino license?
When will MGM complete the Empire City Casino transformation project?
What new facilities are planned for the MGM Yonkers casino transformation?
