Yonkers Mayor Demands Investigation After MGM Casino Bid Withdrawal

MGM Withdraws Yonkers Casino Bid

• 🎯 MGM Resorts has withdrawn its bid to build a casino in Yonkers, leaving the state with two bids in Queens and one in the Bronx.
• 😠 Yonkers Mayor Mike Spano expressed anger and called the process "suspect," stating he learned of the withdrawal via a press release.
• 💰 The proposed $2.3 billion deal to renovate the Empire City Raceway into a casino is now dead.

Reasons for Withdrawal

• 📉 MGM cited a "newly defined competitive landscape" with multiple proposals in a small geographic area, which challenged anticipated returns.
• ⏳ A significant factor was the gaming commission's proposed change to shorten the expected commercial casino license from 30 years to 15 years, announced just six days prior.

Mayor Spano's Call for Investigation

• 🚨 Mayor Spano is calling for Governor Hochul to launch a state investigation into the gaming commission's late rule changes.
• ❓ He questions the business practices involved and wants accountability for the rule modifications.

Unanswered Questions and Bronx Bid

• ⚠️ Both Mayor Spano and County Executive Ken Jenkins have raised concerns about unanswered questions, particularly regarding the Bronx casino project.
• 💸 Specifically, there are questions about approximately $115-$120 million in fees that would be due to the Trump Organization for their former golf course site in the Bronx.
• 🗣️ MGM has stated they have nothing further to add beyond their initial statement.