MGM RESORTS UNVEILS VISION FOR MGM EMPIRE CITY

Rhea-AI Summary

MGM Resorts International (NYSE: MGM) plans to transform Empire City Casino into MGM Empire City, a world-class entertainment destination, if granted a full-scale commercial casino license. The redevelopment includes a comprehensive casino floor, a 5,000-capacity entertainment venue, a state-of-the-art BetMGM sportsbook, new dining experiences, and technologically advanced meeting spaces.

If Granted Full-Scale Commercial Casino License, Empire City Casino by MGM Resorts Will Transition into MGM Empire City; MGM Empire City Will Feature World-Class Entertainment Venue, Exciting New Dining Experiences and More 

Additional images and sizzle reel available at https://bit.ly/MGMEmpireCity

YONKERS, N.Y., Nov. 30, 2023 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) today unveiled its vision to transition Empire City Casino by MGM Resorts into a world-class entertainment destination, MGM Empire City, if awarded a commercial casino license for its historic Yonkers, New York site. Key elements of the phase one design include a comprehensive casino floor redevelopment and expansion, 5,000-capacity entertainment venue, state-of-the-art BetMGM sportsbook, food and beverage outlets by celebrated chefs, cocktail bars and lounges, technologically advanced meeting spaces and more. 

MGM RESORTS' VISION FOR MGM EMPIRE CITY
MGM Empire City's plans feature a complete property redevelopment shifting from a video lottery terminal racino into a full-scale commercial casino with live-dealer table games, the newest slot machines and a high-limit gaming area for the most discerning casino guests. The design includes the addition of several new destination dining experiences, including a modern steakhouse, a casual quick-serve Italian American experience and an authentic Asian noodle bar and eatery. Existing venues Big Kitchen food court and The Pub sports bar will also transform into new, high-end food concepts. The plan also includes development of a new parking garage to significantly enhance the guest arrival experience while also providing visitors with direct and convenient access to the casino and its amenities.

The entertainment venue will be the first-of-its-kind in the region, hosting A-list performers and events in a spectacular 5,000-capacity setting with unrivaled views, cutting-edge acoustics and dedicated amenities. MGM Resorts is renowned for its entertainment offerings as the third-largest ticket seller for live performances in the United States and the capacity to seat more than 100,000 people a night across entertainment venues around the world. MGM Empire City's entertainment venue will boost the region's economy, attracting new events to the market and bringing together locals and tourists alike.

A commercial casino license will also enable MGM Empire City to introduce The BetMGM Sportsbook & Lounge, offering guests lively game day experiences with a 112-foot wrap-around LED screen, stadium seating, VIP areas, multiple betting kiosks and food and beverage operations.

"MGM Resorts has a long and proud history of delivering world-class entertainment and gaming experiences, and we couldn't be more excited to build on that track record at MGM Empire City," said Bill Hornbuckle, President and Chief Executive Officer, MGM Resorts. "A full-scale casino and entertainment destination will provide unparalleled experiences, create thousands of jobs, boost the state's economy, and be a game-changer for the entire region."

Yonkers Mayor Mike Spano said, "This is a momentous opportunity for the City of Yonkers, and I'm excited for the future, knowing the development of MGM Empire City will create thousands of good-paying union jobs and the economic growth that will ensure our city continues to flourish and prosper. Already drawing millions of guests annually, this development plan will solidify Empire City's status as a premier entertainment destination. Generations of Yonkers residents have worked at, enjoyed, and supported this historic property for 125 years, and I am excited about the significant impacts this project will have for residents now and for the next 125 years."

Ed Domingo, General Manager of Empire City Casino, said, "When MGM Resorts acquired Empire City Casino in 2019, we knew we were becoming stewards of a historic institution that has served generations of New Yorkers as a gathering place for entertainment, a source of jobs for the community, and a driver of economic development. As MGM Resorts prepares to enter its sixth year at the helm of this iconic property, we are excited to be able to combine the knowledge we have developed of the New York market with our expertise as a global entertainment brand, to bring the next chapter of New York's entertainment landscape to the incredible community we are part of."

With 31 destinations around the world, MGM Resorts offer best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, sports betting and online gaming operations.

EMPIRE CITY – A DEDICATED COMMUNITY PARTNER
Empire City boasts the largest casino floor in the company's domestic portfolio at 160,000 square feet and is also one of the largest gaming floors in the country. It has been operating since October 2006 with video lottery terminals and electronic table games under its current lottery license. The site is also home to the historic Yonkers Raceway, a world-renowned horse racing harness track that has been operating since 1899. MGM Resorts remains committed to continuing racing operations and recently made significant investments in track renovations.

Empire City is Yonkers's largest tax contributor and one of its largest private employers. Future development plans will substantially boost workforce numbers with thousands of direct hires and over 10,000 anticipated indirect and induced jobs. The property currently spends tens of millions annually on local goods and services, keeping New York dollars in the state.

MGM Resorts is the market share leader across many non-Vegas markets, generating significant tax revenue for states to use for key programs. A full commercial gaming license will allow MGM Resorts to offer a casino experience that is competitive to the offerings of neighboring states, deterring the current flow of entertainment dollars from New York to gaming and entertainment properties in other states. The commercial license is also expected to spark more than $1 billion in new economic activity for the region.

The development plan will move forward if MGM Resorts is successful in securing one of three available full commercial casino licenses currently up for bid in the State of New York. Application process and timeline will be provided by the state's Gaming Facility Location Board in the coming months.

For more information on MGM Empire City development plans, please visit https://bit.ly/MGM-EC-Future. For additional images and sizzle reel, please visit https://bit.ly/MGMEmpireCity.

About MGM Resorts International 
MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary, LeoVegas AB, offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.

About Empire City Casino
Empire City Casino by MGM Resorts is one of the largest entertainment and gaming destinations in the northeast. Featuring nearly 4,700 of the hottest slots, electronic three card poker, blackjack, craps, roulette, baccarat and sic bo table games, Empire City Casino also offers guests year-round harness racing and international simulcasting; live entertainment including the best party, tribute, and Latin bands; New York's hottest DJs, and more. A selection of dining options will satisfy even the most discerning palate with fan-favorite fare at The Pub, and convenient delicious options at Lil' Cocina and the Big Kitchen International Food Court. Visit Empire City Casino by MGM Resorts located at 810 Yonkers Avenue (off I-87 at Central Avenue) Yonkers, NY, Westchester County, open seven days a week from 10:00 a.m. to 6:00 a.m. For more information, visit www.empirecitycasino.com or call 914.968.4200.

Forward-Looking statements
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in MGM Resorts International's (the "Company") public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the Company's expectations regarding the development, expansion, renovation, and transition of the Empire City Casino as described herein, the expected impact of this development project on the region's economy and expected impact on workforce numbers and job creation. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and the Company may not be able to realize them. The Company does not guarantee that the development project or other events described herein will happen as described (or that they will happen at all). These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include whether a full-scale commercial license is awarded to the Company by the State of New York and the terms of such license, effects of economic conditions and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of development and expansion projects, including the proposed development of MGM Empire City, risks relating to development, operations, permits, licenses, financings, approvals and other contingencies described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MEDIA CONTACT:
Josh Knoller
Nicholas & Lence Communications
josh@nicholaslence.com

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SOURCE MGM Resorts International

FAQ

What is MGM Resorts International's plan for Empire City Casino?

MGM Resorts International (NYSE: MGM) plans to transform Empire City Casino into MGM Empire City, a world-class entertainment destination.

What are the key elements of the phase one design for MGM Empire City?

The phase one design includes a comprehensive casino floor redevelopment, a 5,000-capacity entertainment venue, a state-of-the-art BetMGM sportsbook, new dining experiences, and technologically advanced meeting spaces.

What dining experiences will be available at MGM Empire City?

The plan includes the addition of several new destination dining experiences, including a modern steakhouse, a casual quick-serve Italian American experience, and an authentic Asian noodle bar and eatery.

What entertainment offerings will MGM Empire City feature?

MGM Empire City's entertainment venue will host A-list performers and events in a 5,000-capacity setting with cutting-edge acoustics and dedicated amenities.

What will be the sports betting experience at MGM Empire City?

The BetMGM Sportsbook & Lounge will offer lively game day experiences with a 112-foot wrap-around LED screen, stadium seating, VIP areas, multiple betting kiosks, and food and beverage operations.