MGM Resorts International’s $2.3 billion bid to transform the historic Empire City Casino in the New York City suburb of Yonkers into a full-fledged commercial casino and entertainment destination has cleared a major hurdle.
A five-person committee, appointed by elected officials, voted 5-0 for MGM’s bid after it won significant support from residents just north of the city. The approval made MGM the first casino contender to reach the crucial milestone for one of up to three licenses New York state is expected to issue by the end of the year. In sharp contrast, similar committees recently shot down three rival bids in Manhattan.
MGM’s plan calls for the full renovation and expansion of Empire City Casino's existing gaming areas; the addition of a 5,000-person maximum capacity entertainment venue and accompanying meeting space; three new full-service restaurants; and the renovation of existing food and beverage venues.
MGM recently also amended its proposal to add more funding for community and economic development, including support for small businesses.
Empire City Casino, as Yonkers Raceway, has been operating in Yonkers for more than a century. Since 2006, Empire City Casino has generated over $4 billion in tax revenue for New York schools, MGM said on its website.
“If Yonkers doesn’t get one of the three” licenses, “Empire City Casino will wither and die,” James Cavanaugh, chair of the committee, said at the meeting Thursday.
A majority of residents have expressed support for the project despite concerns about noise, traffic, flooding and quality-of-life issues, the committee members said.
Frank Jereis, a committee member appointed by a Yonkers state assemblyman, also took a dig at New York City, pointing to the sharp contrast of Yonkers’ “smooth” process, guided “effectively” by its mayor that he said “New York simply doesn’t have” after the Manhattan proposals were rejected.
Four other New York City casino project proposals remain outside Manhattan, including Bally’s bid at Bally's Golf Links at Ferry Point in the Bronx.
Steve Cohen, the New York Mets owner and billionaire hedge fund investor, and his partner, Hard Rock International, are proposing an $8 billion bid to transform some 50 acres of parking lots around the Citi Field baseball stadium in Queens.
Developer Thor Equities, along with its partners, has proposed an approximately $3 billion entertainment and gaming development at Coney Island in Brooklyn.
Resorts World New York City, billed as the city’s first and only casino-hotel at Aqueduct Racetrack in southeast Queens, near John F. Kennedy International Airport, has promised a $5 billion expansion plan to turn the longtime racetrack into a full, Las Vegas-style gaming destination. Its committee is expected make a decision on the project Thursday afternoon.
The State Gaming Commission has said securing a two-thirds majority vote from a community advisory committee is required before any bid can advance to the next round and be considered by the state’s Gaming Facility Location Board. The final decision is slated to come by Dec. 1.
Committee votes for the remaining contenders are to take place by Tuesday.