Empire City Casino Announces Agreement with MGM Resorts International for Sale of Racing and Gaming Property and Operations
YONKERS, N.Y. (PRWEB) May 29, 2018 -- Yonkers Racing Corporation, owner and operator of the gaming and racing facilities of Empire City Casino (“Empire City”), one of the largest gaming facilities in the U.S. and one of only two facilities licensed to serve the New York City metropolitan area, today announced that it has entered into an agreement to sell its racing and gaming property and operations to MGM Resorts International ("MGM Resorts") (NYSE: MGM).
Empire City’s iconic 97-acre property serves more than 16 million eligible gaming customers in southern New York and is located only 15 miles from Times Square in Manhattan. Offering gaming, racing, dining, and entertainment, Empire City features over 5,200 of the latest slots and electronic table games, multiple dining outlets, and both live and simulcast horse racing.
“Our vision for this property has always been to develop it into one of the world’s greatest entertainment destinations,” said Tim Rooney, Sr. President and CEO of Empire City. “We have been a partner of New York State and its communities for forty-six years, and it was important to us that we identify an entity that could build on the strong foundation we have established and bring our vision to fruition. We are confident we have found that in MGM Resorts, one of the premier gaming entities in the world.”
The Rooney family, which has owned Empire City Casino and Yonkers Raceway for nearly five decades, has developed the property into one of the most successful gaming operations in the country. Empire City boasts the sixth largest gaming floor in the country, welcomes nearly eight million visitors annually, and is supported by over 1,200 employees representing 13 unions.
Frequently recognized for its philanthropic efforts, Empire City supports hundreds of community and non-profit organizations though charitable giving and contributes more than $300 million annually to state education and has solely generated over $3 billion for the state education fund to date.
With the potential of downstate full gaming licenses on the horizon, Empire City announced in November 2017 that it had engaged J.P. Morgan Securities LLC to initiate the process to explore alternatives to best position its facility for the future. Today’s announcement is the culmination of those efforts. The transaction with MGM Resorts is subject to receipt of regulatory approvals and other customary closing conditions and is expected to close in the first quarter of 2019.
About Empire City Casino at Yonkers Raceway:
Empire City Casino is one of the largest entertainment and gaming destinations in the northeast. Featuring 5,300 of the hottest slots, electronic three card poker, blackjack, craps, roulette, baccarat and sic bo, Empire City Casino also offers guests year-round harness racing and International simulcasting, live entertainment including the best party, tribute and Latin bands, comedy, New York’s hottest DJ’s, and more. A plethora of dining options will satisfy even the most discerning palate with Italian cuisine at Nonno’s Trattoria; Dan Rooney’s, a high-energy sports bar; Alley 810, a craft cocktail lounge with retro bowling lanes; and convenient delicious options at the International Food Court or Lil’ Cocina. Visit Empire City Casino at Yonkers Raceway located at 810 Yonkers Avenue (off I-87 at Central Avenue) Yonkers, NY, Westchester County, open seven days a week from 10:00 a.m. to 6:00 a.m. Visit http://www.empirecitycasino.com or call 914.968.4200 for information.
Taryn Duffy, Empire City Casino, http://www.empirecitycasino.com, 914-457-2431, [email protected]
Share this article