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MGM buys Empire City CasinoPosted: Updated:
An iconic gaming facility in Yonkers is selling its property to MGM Resorts International.
Empire City Casino announced it has entered an agreement with MGM Resorts International to take over the racing and gaming property. MGM says it bought Empire City for $850 million, with the sale to be finalized in 2019.
An Empire City Casino spokesperson calls the location one of the largest gaming facilities in the U.S., welcoming nearly 8 million visitors annually. With only 40 percent of the 97-acre property being used, the Yonkers facility could become one of the world's largest entertainment destinations.
Yonkers Racing Corporation has been the owner and operator of Empire City for 46 years.
Over 1,200 employees work there, and a spokesperson says most staffers will continue to work there once MGM takes over, with the exception of the CEO and top management positions.
Empire CEO Tim Rooney Sr. released a statement saying in part, "It was important for us that we identify an entity that could build on the strong foundation we have established and bring our vision to fruition."
Yonkers Mayor Mike Spano says he welcomes the sale and promises an economic boon.