MGM Resorts, which already operates in New York State through Empire City Casino, recently hinted at further expansion plans in its operations. Most recently, the company shared plans to apply for one of three Downstate Casino licenses for northern New York State. However, in order to get their hands on one of them, the operator must first go through the application process.
Last month, the New York State Legislature officially included accelerating state northern casino licenses in this year’s budget. This will allow you to expedite the process for at least one year and issue three licenses early. So far, the company’s Empire City Casino and Genting Malaysia Resort World NYC are among the strong candidates to host two of the three.
In an investor call this week, MGM Resorts CEO and President William Hornbuckle shared some ideas about expanding MGM Resorts. Mr Hornbuckle said he hopes to invest billions in the first round of expansion to bring the venue to the top of the business, as well as to secure much-needed parking at New York properties.
However, the CEO did not say exactly how many billion dollars the company plans to invest in upgrading its Yonkers gaming facility. But the team provided some details about it. For example, the company wants to replace the video lottery terminal with a physical slot machine. Table games and other amenities will also be added.said the CEO.
Mr Hornbuckle believes that a full-fledged casino will attract markets available at venues in and around the neighborhood. But he says the company will understand the basic plan for casinos as if they were in progress. He says it’s a multi-billion dollar project, so the team needs to ponder how it’s going to end.
Perhaps the most important step for the company is to obtain one of the three licenses and obtain approval from the New York State Game Commission. This operator will face major competition for licenses. So far, many game companies have expressed interest in establishing casinos in downtown New York.
In addition to Junkers Casino, Resort World New York City in Queens is another strong candidate for a full commercial permit. According to a recent statement from CGS-CIMB Research, Genting Malaysia’s amenities are located in Jeonju because they can scale faster than other candidate sites and thus bring in more revenue.
Earlier this month, Congresswoman Amanda Septimo came up with the idea of having one of the commercial casinos in the Bronx, and more specifically, proposed to Hunts Point Waterfront. Ms Septimo threw the idea to Rep. Rafael Salamanca Jr., who represents the region, and said she seemed open to starting a potential casino.