YONKERS, New York (WABC) — MGM Resorts has unexpectedly withdrawn its bid for Empire City Yonkers.<\/p>\n
MGM made the announcement in a statement on Tuesday.<\/p>\n
“Today, MGM Resorts made the difficult decision to withdraw its application for a commercialcasinolicense in Yonkers, New York,” the statement said. “Since submitting our application in June, the competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3 billion investment.”<\/p>\n
They say their proposal was also predicated on the receipt of a 30-year casino license but say they are now only expected to qualify for a 15-year license, based on new guidance from the state.<\/p>\n
That leaves three remaining contenders for up to three licenses that can be handed out to casinos in downstate New York. They’re at the Aqueduct Racetrack in Queens, at Citi Field and in the Bronx.<\/p>\n
Yonkers Mayor Mike Spano says he wants a full investigation saying, “Something doesn’t add up here. The people of Yonkers deserve answers.”<\/p>\n
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