New York delays MGM’s acquisitions

MGM New York casino

MGM will soon acquire the Empire City Casino and Yonkers Raceway.(Credits: westfaironline.com)

The New York State Gaming Commission has delayed an US$850 million sale of Empire City Casino and Yonkers Raceway to MGM.

US.- Casino giant MGM will still have to wait to acquire the Empire City Casino and Yonkers Raceway. The New York State Gaming Commission (NYSGC) has delayed a vote, which was scheduled for last Thursday, to approve it and the US$850 million deal has been put on hold.

The NYSGC planned to meet in Manhattan this week but the majority of its board members couldn’t get there in time so the deal will have to wait. Nonetheless, a commission spokesman advanced that there’s no problem with the sale, so it’s probably just a matter of time before it finally gets approved.

“I don’t foresee any issues. I think they’re going to have a new date – that’s going to happen pretty quickly. And then they’ll meet and get this forward and get things moving,” Yonkers Mayor Mike Spano said despite the delay.

According to Mayor Spano, MGM is expected to develop full casino gaming and also have plans for a hotel and entertainment venue.

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