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MGM withdraws Yonkers casino licence bid over revised terms and economics

Licences & markets

MGM Yonkers Inc. said it withdrew its application to turn Empire City Casino in Yonkers into a commercial casino. MGM said the proposed $2.3 billion investment no longer met its return expectations after competition increased and state guidance indicated a 15-year licence rather than the 30-year term underpinning its plans. The company said it would continue operating the property in its current format.

MGM’s withdrawal underscores how competition and licence duration affected its investment decision, while it continues operating Empire City in its current format.

End-of-day close MGM Resorts (MGM), USD, to 28 November 2025
Story date2 September 202528 November 2025

Earlier licence decisions by NYSGC

DateCompanyAmountStoryAppeal status
Thor EquitiesUSD 3,400,000,000New York committee rejects Thor Equities’ Coney Island casino bidNot stated
Bally’sUSD 4,000,000,000New York committee advances Bally’s $4 billion Bronx casino proposalNot stated
Resorts WorldUSD 5,500,000,000New York advisory committee backs Resorts World Queens casino planNot stated
MGM Resorts, GentingUSD 5,500,000,000New York advisory committees advance Yonkers and Queens casino bidsNot stated
MGM ResortsUSD 2,300,000,000MGM Yonkers applies for New York commercial casino licenceNot stated

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