MGM Withdraws Yonkers Casino Expansion Bid
Photo credit: NY Post
In a surprising move, MGM Resorts International has withdrawn its bid to expand its Empire City Casino in Yonkers — a decision that reshapes the landscape for New York’s long-awaited downstate casino licenses.
The company confirmed Tuesday that it will no longer pursue the proposed $2.3 billion redevelopment of its Empire City property, which had been expected to bring new table games, thousands of jobs, and major economic investment to the region.
In a letter to the New York State Gaming Commission, Patrick Madamba, MGM’s senior vice president, said changing market conditions and new competition made the project less viable than originally planned.
“Since submitting the application in June, the competitive and economic assumptions underpinning the application have shifted,” Madamba wrote. “The newly defined competitive landscape — with four proposals clustered in a small geographic area — challenges the returns MGM initially anticipated from the project.”
MGM’s proposal had relied on securing a 30-year operating license, but current state plans limit licenses to 15 years — a key factor in the company’s decision to pull back.
The decision leaves three contenders still in the running for New York’s downstate casino licenses:
Steve Cohen’s $8 billion proposal near Citi Field in Queens.
Bally’s planned casino at the former Trump Golf Links in The Bronx.
Resorts World’s expansion at Aqueduct Racetrack in Queens.
Earlier bids from Caesars, Jay-Z’s Roc Nation, and SL Green for a Times Square location, as well as Silverstein Properties’ Hudson Yards proposal, were already withdrawn following community opposition.
The New York State Gaming Commission is expected to decide on the remaining applications by the end of the year. Commissioners could approve all three projects — or fewer, depending on evaluations.
For Yonkers, MGM’s withdrawal raises questions about what comes next for Empire City Casino, which remains one of the city’s largest employers and revenue sources. While MGM continues to operate the facility, the company’s decision means its long-anticipated transformation into a full-scale casino will have to wait.
Mayor Mike Spano responded Tuesday, calling MGM’s decision a “betrayal to the people of Yonkers and Westchester County” and saying, “the people deserve answers”.
Mayor Mike Spano’s response on Instagram
