It’s official. Venerable Yonkers Raceway and its Empire City Casino have been sold.
MGM Resorts International closed purchase of the harness track and casino in Westchester, just a couple of miles north of the New York City border, Tuesday for $850 million after state gaming regulators approved the purchase.
MGM Growth Properties, which partnered in the deal, acquired the 97 acres and the building associated with it for $625 million from MGM Resorts.
“With this new addition to the MGM Resorts portfolio, we have now gained a foothold in the high-density New York City region and we look forward to leveraging the MGM platform to maximize value in this evolving marketplace,” said MGM Resorts chairman Jim Murren.
Tim Rooney, Empire City’s former owner, said the casino and racetrack have been left in capable hands.
“The potential for growth at Empire City has absolutely no boundaries,” Rooney said. “MGM will truly provide Empire City employees and the property’s guests with the resources and opportunities to make the casino and track into something we haven’t even yet realized.”
Racing has been held at Yonkers dating back to 1899. The half-mile track has been owned by the Rooney family since 1972 and the casino has been in operation since 2006.
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