Full Breakdown
MGM Resorts Withdraws from New York Casino Bid, Leaving Three Contenders
10/15/2025, 2:44:45 AM
Withdrawal of MGM Resorts
MGM Resorts International has officially withdrawn its application for a commercial casino license in Yonkers, New York, a surprising move that eliminates one of the leading contenders in the competitive bidding process for three downstate casino licenses. The company cited shifting economic assumptions and a newly defined competitive landscape as primary reasons for its decision. MGM's proposal, which included a $2.3 billion expansion of its existing Empire City Casino, was initially seen as a strong candidate after receiving unanimous approval from the Community Advisory Council.
In a statement released on October 14, MGM expressed that the competitive environment, now featuring four proposals clustered in close proximity, significantly challenged the anticipated returns on its investment. Additionally, the New York State Gaming Commission's recent guidance indicated that MGM would qualify for only a 15-year license instead of the expected 30-year term, further complicating the financial viability of the project.
Remaining Contenders
With MGM's exit, three proposals remain in contention for the three available licenses. These include:
1. Bally’s Corporation: Proposing a casino at the former Trump Links golf course in the Bronx, which could yield a $115 million payout to the Trump Organization if successful.
2. Resorts World: Owned by Genting, this proposal aims to expand its existing electronic gaming facility at Aqueduct Racetrack in Queens.
3. Metropolitan Park: A project backed by New York Mets owner Steve Cohen, proposing an $8 billion casino complex adjacent to Citi Field in Queens.
The New York State Gaming Commission is expected to make its final decisions by December 31, 2025.
Criticism and Opposition
The withdrawal has sparked significant backlash, particularly from Yonkers Mayor Mike Spano, who described MGM's decision as "nothing short of a betrayal" to the people of Yonkers and Westchester County. He has called for an independent investigation into the circumstances surrounding MGM's withdrawal, suggesting potential political influence or manipulation linked to the competing Bally's proposal. Spano emphasized that the community had shown overwhelming support for MGM's project, raising questions about the motives behind its sudden exit.
Westchester County Executive Ken Jenkins echoed Spano's sentiments, expressing shock and disappointment, and questioning the rationale behind MGM's decision. Both officials have highlighted the potential financial benefits to Donald Trump from Bally's proposal, further complicating the narrative surrounding MGM's withdrawal.
Official Statements
MGM's statement underscored its commitment to operating Empire City Casino in its current format, which has contributed over $5 billion to New York State education since its acquisition in 2019. The company reiterated its belief that the existing facility would continue to thrive without the full gaming license it sought.
What's Next
As the remaining bidders prepare for the final evaluation by the Gaming Facility Location Board, the focus will be on their economic impact, projected tax revenues, and community benefits. The outcome of this process will significantly shape the future of casino gambling in the New York City area, particularly as the state aims to address budget deficits through increased gaming revenues.
