Empire City Casino, Yonkers, NY
YONKERS, NY—After securing the necessary approvals from the New York State Gaming Commission on Monday, MGM Resorts International and MGM Growth Properties LLC announced today they have completed the transactions for their acquisition of Empire City Casino in Yonkers.
Following MGM Resorts' acquisition of Empire City for approximately $850 million, MG Growth Properties acquired the developed real property from MGM Resorts for approximately $625 million and leased it back to a subsidiary of MGM Resorts that will now operate the property. MGM announced its intent to acquire the property in May 2018.
The New York State Gaming Commission on Monday approved the sale of Empire City Casino and the debt transaction related to the deal. The commission also approved applications by MGM for licenses to conduct video lottery games at the Yonkers casino. The commission also approved simulcasting and account wagering and the license to conduct harness racing in 2019 at Yonkers Raceway.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
