MGM Resorts Pulls Out of Contention for NYC-Area Casino License

In a startling move that has left local authorities disappointed and industry observers puzzled, MGM Resorts has removed its name from consideration for a casino license in downstate New York.

A proposed MGM Resorts Casino in Yonkers is now off the table, leaving three other gaming companies to compete for the few licenses being dangled for casinos in the New York city area.

Artist rendering of the proposed Empire City Casino in Yonkers

In a statement announcing its decision, MGM Resorts said a "newly defined competitive landscape" has led to their abandoning what could have been an expansive Empire City Casino in Yonkers.

Now, with MGM Resorts out of the running, Bally's, a Steve Cohen group of investors teamed with Hard Rock International, and Resorts World remain in the running for licensure downstate.

New York city has long been keen to add a casino in the city or in an adjacent area

The state and local officials have established up to three gaming licenses. So far, no license has been awarded, but four project plans have received approval by downstate officials, including Empire City Casino.

It's thought that Bally's has the best chance to receive the first license for a casino downstate. Its plan would lead to a casino resort in the Bronx.

The Resorts World project hopes to place a casino in Jamaica on land that formerly hosted of the Aqueduct Racetrack

The Hard Rock/Cohen project wants to build an $8 billion casino resort and entertainment district inn Queens near Citi Field, home of the New York Mets, which Cohen owns.

Mike Spano, the mayor of Yonkers, bristled at the decision by MGM Resorts to pull out of a plan that had been coordinated with approval from Westchester County officials. Spano said the move was “nothing short of a betrayal...”

Whichever gaming company receives a license for a casino in the downstate and NYC region, it won't be cheap

The license fee is set at $500 million. Hundreds of million or even billions more could be spent building or renovating existing structures.

The state is expected to make a decision on a license or licenses for new casinos later in 2025. New York currently is home to several tribal-owned casinos, as well four Class-3 commercial casinos, all located upstate.

No legal casino has operated in New York city or downstate. Patrons interested in casino gaming near New York city have had to cross over into New Jersey.

Any operator of a casino downstate would face zoning approval and possible opposition from communities impacted. All licensees would face high tax rates implemented in New York.

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