Overview

• MGM said shifting economics and a newly clustered competitive field undercut returns on its planned $2.3 billion Empire City expansion.
• The Yonkers proposal had secured unanimous Community Advisory Committee approval and was considered a leading contender before the reversal.
• With MGM out, the field now consists of Resorts World at Aqueduct in Queens, Steve Cohen and Hard Rock’s Metropolitan Park near Citi Field, and Bally’s Ferry Point in the Bronx.
• MGM said it will keep operating Empire City in its current racino format and cited capital stewardship priorities with real estate partner VICI.
• Yonkers Mayor Mike Spano condemned the decision as a betrayal and urged Gov. Kathy Hochul to order an investigation as state boards move toward December licensing decisions.