11/18/2023 0 Comments Mgm buying empire city casino![]() The casino reports annual net revenues of more than $200 million, thanks in large part to its close proximity to millions of potential customers.īut is it worth $850 million? As well-situated as the racino is, there are drawbacks. The Yonkers site in Westchester County, which includes its Empire City Casino with more than 5,000 slot machines, is just under 20 miles from midtown Manhattan. The decision by casino giant MGM to buy its first racetrack is a fascinating one - and a gamble at that. MGM announced its plans last May to buy the racino from the Rooney family for $850 million, but the complexity of the deal left commission staff needing more than six months to complete the review. a relative of MGM Resorts International - to conduct harness racing at the track in 2019, to offer simulcasting and account wagering as well as video lottery gaming, and to approve a byzantine debt transaction of hundreds of millions of dollars. While the sports betting approval marked the middle of a complicated process, the four MGM votes marked the end of one: The 120-year-old racetrack is now under new management. Shortly after the board of the New York State Gaming Commission green-lighted preliminary rules for legal sports betting at upstate New York casinos on Monday, the board took further action on the sale of Yonkers Raceway to MGM. Caesars Palace Online Casino Bonus Code. ![]()
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