MGM Resorts buys Empire City casino in Yonkers

Discussion in 'Casino Reviews' started by Bases loaded, May 31, 2018.

  1. Bases loaded, May 31, 2018

    Bases loaded

    Bases loaded Member

    Joined:
    Jan 29, 2015
    Messages:
    1,466
    Likes Received:
    1,031
    Just saw this now. Had not heard anything about it??

    MGM Resorts bought the Empire City casino in Yonkers!

    https://www.reviewjournal.com/busin...ts-buys-ny-casino-racetrack-complex-for-850m/

    Empire City is a racino, licensed for Class II gaming. The 'slot' machines are actually VLT's - video lottery terminals. It is analogous to a scratch off lottery ticket. They look like Las Vegas styple machines but are not the same. The 'table' games are all electronic, including bubble craps and the fully electronic craps.

    Eventually 3 full scale casinos will be approved in and around NYC. I believe this is MGM getting their foot in the door.
     
    #1
  2. TDVegas, May 31, 2018

    TDVegas

    TDVegas Member

    Joined:
    Jan 4, 2014
    Messages:
    14,255
    Likes Received:
    7,294
    The future money for MGM is outside Vegas. They have such a saturated footprint on the strip...they don't need more here. While there was talk of MGM buying Wynn, it was merely talk.

    With their DC casino...MGM realized there are HUGE dollars to be made. My MGM contact visited the DC casino and was astounded by the table minimums AND the fact that they were packed like no tomorrow. He just shook his head.

    Find an affluent area...build a casino. They will come. I'm not sure how the Catskills casino will fare because the area was always on the lower end of the economic scale. MGM knows what it is doing. Murren isn't a gambler...but he knows gambling.
     
    #2
  3. random_roller, Jun 1, 2018

    random_roller

    random_roller Member

    Joined:
    Apr 30, 2015
    Messages:
    3,731
    Likes Received:
    4,682
    IMO, this move is also a bit of a hedge bet. Look at what happened in Massachusetts. Every casino operator -- including MGM Resorts International -- wanted the Boston Harbor site to build a new facility. Wynn Resorts ended up being awarded that most coveted location and MGM was given a consolation prize -- Springfield, MA -- which has nowhere near the upside prospects of Boston Harbor. I suspect MGM didn't want to solely rely upon winning what will undoubtedly prove to be an most expensive bid to build a casino in NYC if (when) it finally arrives several years from now.

    If this move is approved by the regulators, MGM will have a big head start on most of its major competitors (notably CET & Penn National Gaming) in the NYC area. That, coupled with it's presence in Atlantic City, NJ (Borgata), may prove to be a dominant hand in the region.
     
    #3
    yacraps and TDVegas like this.