• In New York, leading gaming and hospitality companies are competing for a total of three new casino licenses
• Recently, MGM Resorts' subsidiary, MGM Yonkers, submitted its casino license application with the New York Gaming Commission and the Gaming Facility Location Board
• If MGM obtains one of the three licenses, it will expand its gaming offering at Empire City Casino and also bring other notable improvements under its $2.3bn proposal

The leading gaming, hospitality and entertainment company with a strong presence in the United States, MGM Resorts International, announced that its subsidiary, MGM Yonkers, submitted its commercial casino application in New York.

MGM Resorts' proposal to overhaul Empire City Casino has a $2.3bn price tag

A total of three new downstate casino licenses are up for grabs and MGM Resorts is one out of nearly a dozen gaming and entertainment companies competing for one.

While its competitors propose new developments, MGM Resorts intends to redevelop its historic Empire City Casino.

The overhaul, per the newly submitted application with the New York Gaming Commission and the Gaming Facility Location Board, has a price tag of $2.3bn.

If MGM Resorts obtains one of the coveted licenses and redevelops Empire City Casino, the venue is expected to become a leading commercial casino and an entertainment destination.

Ultimately, the redevelopment of the casino is expected to create thousands of direct and indirect jobs, boosting economic activity in the region.

Besides the overhaul of Empire City Casino, MGM Resorts intends to invest in supporting public infrastructure for the City of Yonkers.

Such investments would focus on traffic, water lines and roads.

Bill Hornbuckle, MGM Resorts' CEO and President, said about the latest announcement: "Empire City Casino and Yonkers Raceway have anchored the entertainment and tourism culture in downstate New York for more than a century."

Finally, the executive pointed out: "Achieving a full casino license will ensure this site will continue to be a cultural and economic force for generations to come."

The company plans to expand the venue's gaming floor, bring additional amenities

According to the recently submitted application, MGM Resorts will expand and renovate Empire City Casino's existing gaming floor.

Besides a new high-limit lounge, the venue will feature a state-of-the-art BetMGM Sportsbook.

In addition, a new entertainment venue and meeting space will be added to the Empire City Casino.

The entertainment area would offer a maximum capacity of 5,000 people and will be used for concerts and other special events, including graduations.

In addition, MGM Resorts plans to add three new full-service restaurants and renovate the existing food and beverage outlets at Empire City Casino.

This is expected to elevate the experiences for customers at the popular gaming and entertainment venue.

Notably, the new application describes how Empire City Casino will create economic stimulus not only by creating new jobs but via a revenue share formula that would benefit the City of Yonkers.

Per MGM Resorts' proposal, if Empire City Casino obtains a license, the City of Yonkers would benefit from 10% of the tax revenue generated.

Another 5% of the tax revenue would be allocated to Westchester County, while Rockland and Putnam counties are going to divide 5%.

Considering that MGM Resorts obtains the license, the overhaul of Empire City Casino is expected to be completed by mid-2029.

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