MGM Yonkers submits application for commodity gambling establishment permit in New York
Yo, here's the lowdown on MGM Yonkers, a subsidiary of MGM Resorts International. They've tossed their hat in the ring for a piece of the action in downstate New York's casino market, submitting their application to the New York Gaming Commission and the Gaming Facility Location Board.
They're looking to spend a whopping $2.3 billion to transform the Empire City Casino site into a Vegas-style entertainment extravaganza, complete with a renovated casino, a 5,000-seater entertainment venue, an expansive high-limit lounge, and a state-of-the-art BetMGM Sportsbook. Plus, they've promised to pump some cash into public infrastructure, including road, water line, and traffic technology improvements, and energy-efficient methods to conserve water and harness solar energy.
If they hit the jackpot and get the green light, they're aiming to have all this done by mid-2029. Bill Hornbuckle, the president and CEO of MGM Resorts, is all hyped up about it, saying it'll keep the entertainment and tourism culture in downstate New York thriving for years to come.
Since Empire City Casino opened its doors in 2006, it's generated over $5 billion for New York State's education system, with a cool $1.6 billion of that raked in since MGM Resorts took over in 2019. And, if they're awarded a full casino license, they're planning to share the tax revenue love with Yonkers and the surrounding counties. Yonkers will get 10%, Westchester County 5%, and the rest split between Rockland and Putnam counties.
So, keep an eye on MGM Yonkers, bud. If they bag the license, it's going to be a wild ride for the Empire City Casino site—and your wallet! 💰🎇
By the way, if you're curious about the competition, there are eight potential bidders still in the running. Let the games begin! 🃏🔥
[1] Source: MGM Yonkers Casino Application[2] Source: New York Gaming Commission[3] Source: MGM Resorts International Press Release[4] Source: New York State Gaming Facility Location Board
At MGM Yonkers, they're planning to introduce a BetMGM Sportsbook alongside their luxury renovations, bringing sports-related entertainment to the Vegas-style casino project. The eight potential bidders in downstate New York's casino market, including MGM Yonkers, are keeping each other on their toes, ready for the games to begin.
