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MGM Resorts to acquire New York casino Empire City in January

Fri, Dec 28, 7:24am by Staff Writer

MGM Resorts International’s $850 million purchase of the Empire City Casino in New York is scheduled to close in January.

The Las Vegas based gaming company announced the news in conjunction with its appointment of Uri Clinton as the president and chief operating officer of Empire City Casino.

Clinton will be responsible for the daily operators at Empire City and provide strategic direction and leadership for the property.

His resume includes management roles in other MGM Resorts, as well as developing opportunities for growth in Connecticut and New York.

He joined MGM Resorts as a vice president and deputy general counsel in 2014, according to Globe St.

He has provided legal advice and counseling on gaming jurisdictions before transitioning to global development in 2018.

Clinton earned a bachelor’s degree in political science from the University of Nevada, Las Vegas and a juris doctorate from Gonzaga University School of Law.

In May 2018, MGM Resorts International and MGM Growth Properties LLC reached the $850 million agreement to acquire the Empire City Casino.

At the time, MGM had anticipated closing on the property during the first quarter of 2019.

Empire City is New York’s most profitable casino

The 97-acre property located off the New York State Thruway in southern Westchester Country includes both a casino and raceway.

MGM Growth Properties will lease back the property to a subsidiary of MGM resorts that will operate the property.

MGM Resorts has also agreed to pay an additional $50 million if Empire City is awarded a license by New York State for live table games on or prior to December 31, 2022.

The company would accept such a license by December 31, 2024.

Empire City Casino is one of many American ‘racinos’ where a racetrack and casino are on the same site.

The famous Yonkers Raceway was founded in 1899 and is a one-half-mile standard bred harness racing dirt track.

MGM Resorts International purchased Yonkers Raceway and Empire City from the sons of Pittsburgh Steelers legend Art Rooney in May.

Yonkers Raceway had a $225 million renovation that included 7,500 high-tech slot machines in 2006.

Among those slot machines were 1.870 video gaming machines.

The casino netted $3.8 million in revenue in its first week alone, making it the most profitable casino in the state of New York, according to The Journal News.

A $50 million expansion designed by Studio V Architecture was completed in January 2013 that added 66,000 square feet to the casino.

It included a sculptural entrance, a new gaming floor with 700 slot machines and two new restaurants.

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