MGM Resorts invests $500m to upgrade Yonkers Raceway

MGM injected $500m to revamp Yonkers Raceway.
MGM injected $500m to revamp Yonkers Raceway.

The casino operator has revamped the New York raceway.

US.- MGM Resorts has announced it has invested $500m to upgrade the 122-year-old harness track at Yonkers Raceway.

The upgrades began on May 31, Memorial Day in the US, and wrapped up on June 9 in time for an opening day that coincided with the lifting of Covid-19 restrictions in the state.

The Yonkers Raceway’s history

The venue was first opened in 1899 under the name Empire City Race Track. MGM bought it in 2019 for $850m in cash and stock, turning it over to MGM Growth Properties, its real estate investment trust, while retaining operating rights.

The latests upgrade included the installation of over 8,000 tons of new surface material on the half-mile track: 6,000 tons of recycled material, 64 tons of lime and other surfacing material designed to make the track more resilient. The raceway also now has 14-degree banks on the turn, reportedly the steepest in the country. 

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MGM Resorts International