{"id":3468,"date":"2025-10-15T14:17:09","date_gmt":"2025-10-15T14:17:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/3468\/"},"modified":"2025-10-15T14:17:09","modified_gmt":"2025-10-15T14:17:09","slug":"casino-news-mgm-yonkers-backs-out-of-ny-licence-race","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/3468\/","title":{"rendered":"Casino news | MGM Yonkers backs out of NY licence race"},"content":{"rendered":"<p>    MGM Yonkers, a subsidiary of MGM Resorts, has withdrawn its application for one of the new commercial casino licences in New York, US.<\/p>\n<p>                            <img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/New_York_300_c20ad4.jpg\" alt=\"New York\" class=\"border\"\/><\/p>\n<p>\n\tThe company explained in a statement that, since submitting its application in June, the \u201ccompetitive and economic assumptions\u201d underpinning its application \u201chave shifted,\u201d which has affected its expected returns on its investment.<\/p>\n<p>\n\t&#8220;The newly defined competitive landscape \u2013 with four proposals clustered in a small geographic area \u2013 challenges the returns we initially anticipated from this project,\u201d the company explained.<\/p>\n<p>\n\t\u201cAlso, our proposal to renovate and expand Empire City Casino was predicated on the receipt of a 30-year commercial casino license but based on newly issued guidance from the State of New York we now expect to qualify for only a 15-year license.\u201d<\/p>\n<p>\n\tThe unexpected withdrawal leaves only three proposals on the table: one by Steve Cohen for a casino complex next to Citi Field, one by Bally\u2019s at former Trump golf course in The Bronx and one by Resorts World and Queen\u2019s Aqueduct race track.<\/p>\n","protected":false},"excerpt":{"rendered":"MGM Yonkers, a subsidiary of MGM Resorts, has withdrawn its application for one of the new commercial casino&hellip;\n","protected":false},"author":2,"featured_media":3469,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3866,3864,3865,3107,9,11,10,49,51,50,3867,3048],"class_list":["post-3468","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-bid","tag-intergame","tag-licence","tag-mgm","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news","tag-proposal","tag-yonkers"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/3468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=3468"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/3468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/3469"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=3468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=3468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=3468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}