MGM Resorts closes on $850M Yonkers casino, raceway acquisition

TRD New York /
Jan.January 31, 2019 12:02 PM

Eight months after announcing its purchase of the Empire City Casino and Yonkers Raceway, Las Vegas-based hospitality and entertainment giant MGM Resorts has finalized the terms of its $850 million acquisition, LoHud reported. News of the closing came a day after New York State Gaming Commission’s board signed off on the gaming and horse racing licenses that MGM needed for the purchase to go through, according to the outlet. MGM bought the casino and racetrack from the Rooney family, who owned both properties for 46 years. (The Rooneys also own the National Football League’s Pittsburgh Steelers.) “We are pleased to welcome the 1,200 employees at Empire City Casino to the MGM Resorts family,” MGM chairman and CEO James Murren said in a statement. The Real Deal recently reported on Murren’s dispute with fellow gaming mogul Glenn Schaeffer, a former president of the Mandalay Resort Group, over a New Zealand winery. [LoHud]


Related Articles

arrow_forward_ios
Lana Zakocela and Justin Etzin in front of their former New Castle home (Credit: Getty, Zillow)

The Seychelles to auction off estate at a discount after diplomat’s divorce

Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more

Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more

Paul Simon’s Connecticut estate is on the market for $14M

Paul Simon’s Connecticut estate is on the market for $14M

Westchester & Fairfield Cheat Sheet: JPMorgan to sell One City Place in White Plains, Greenwich homeowners get used to price cuts… & more

Westchester & Fairfield Cheat Sheet: JPMorgan to sell One City Place in White Plains, Greenwich homeowners get used to price cuts… & more

This new bill is taking aim at property taxes for golf courses — including Trump’s

This new bill is taking aim at property taxes for golf courses — including Trump’s

Placeholder image

Rockland County’s troubled Time Nyack Hotel gets a new owner

Placeholder image

Edge-on-Hudson developers enlist architect for parks and paths

Placeholder image

Report finds Norwalk and Stamford have highest rents in Connecticut

arrow_forward_ios