As competition heats up in the race to secure one of New York’s three casino licenses, MGM Resorts has unexpectedly withdrawn from the race. The MGM Yonkers branch has officially withdrawn its application for a commercial casino license from the New York Gaming Commission and the Gaming Facilities Location Board.
“Today, MGM Resorts made the difficult decision to withdraw its application for a commercial casino license in Yonkers, New York,” the MGM Resorts statement read. “Since submitting our application in June, the competitive and economic assumptions underlying our application have changed, altering our expectations for the return on the proposed $2.3 billion investment.
MGM dropping its Yonkers casino license application after years of planning and mobilizing community support – and two months after the licensing decision – is one of the most shocking (in terms of improbability) decisions in the past decade of gaming industry development.
– Ryan Butler (@ButlerBets) October 14, 2025
“The newly defined competitive landscape – with four proposals packed into a small geographic area – challenges the returns we initially expected from this project.
“Additionally, our proposal to renovate and expand Empire City Casino was predicated on obtaining a 30-year commercial casino license, but based on recently issued guidance from New York State, we now plan to qualify for a 15-year license only. Taken together, these events result in a proposal that no longer aligns with our commitment to capital management, nor that of our real estate partner at Yonkers, VICI. “
The company then highlighted its continued presence in New York through the Empire City Casino, purchased in 2019.
“We know our decision will impact many people; we remain committed to operating the property in its current format and believe it will continue to be successful serving guests in Yonkers and the surrounding communities,” MGM Resorts wrote.
What’s next for the battle for New York’s casino auctions?
As it stands, after MGM’s withdrawal, three bids remain pending for up to three slots: Citi Field in Queens, Genting Group’s Resorts World in New York and Bally’s Bronx casino. Just because there are up to three licenses available does not mean they will all be approved.
The necessary steps to obtain the license still need to be completed, as well as paying a minimum of $500 million for the license itself.
Cover image: MGM Resorts
The article MGM Yonkers withdraws from New York casino auction race appeared first on ReadWrite.
