On May 27, the Yonkers City Council is expected to cast a historic vote that could forever alter the city’s economic future: approval of the zoning changes necessary to transform Empire City Casino into a full-scale commercial casino. The decision marks a pivotal moment in Yonkers’ 21st-century story—a first step toward unlocking more than $3 billion in private investment from MGM Resorts International.
MGM, which acquired the iconic Empire City property in 2019 for $850 million, has already invested significantly into revitalizing the facility and prioritizing its workforce. The company has doubled employee wages, added near-zero-cost college degree programs, built a state-of-the-art employee dining facility and tech lounge, and offers free meals to staff. The results are clear: soaring employee retention and a job destination sought after by Yonkers residents.
But MGM’s next chapter for Empire City is bigger than anything Yonkers has ever seen. The company is committing another $2.2 billion in a phase one redevelopment of the property—an investment that would triple the workforce with 2,000 new six-figure jobs, thousands of construction jobs, and significant new economic activity that will revitalize businesses throughout the city.
Empire City is already a major economic engine. As a Video Lottery Terminal (VLT) facility since 2006, it boasts one of the largest casino floors in the country and generates over $300 million annually for New York State’s education fund—more than $5 billion to date. These funds help offset property taxes for homeowners and support the horse racing industry, which has called Yonkers Raceway home since 1899.
Now, as one of just three remaining licenses available in New York State, Empire City is the only applicant located outside New York City following the exit of Las Vegas Sands’ bid in Nassau County from race. But MGM faces a competitive playing field—one that is far from level. Unlike most applicants, MGM must guarantee over $420 million in tax obligations from the outset, including more than $300 million for the state’s education fund, $60 million for racing purses, and over $60 million to be shared between Yonkers, Westchester, Rockland, and Putnam counties.
Most crucially, Yonkers is the only municipality in the running that will receive a direct annual revenue share: 10% of gross gaming tax revenue. That translates to $55 million in the first year alone when including payroll, sales, and property taxes, with year-over-year increases projected as the property develops.
The May 27 vote will clear the way for Empire City to submit its official casino application to the state by the June 27 deadline. From there, a Community Advisory Council will hold public hearings to gauge neighborhood support. Without clear community backing, the application cannot proceed.
What happens over the next few weeks will be watched across New York. The City of Yonkers stands on the threshold of a transformative economic moment. For the first time in its history, the City Council has the opportunity to usher in a multi-billion dollar investment that will create jobs, generate revenue, and secure long-term prosperity.
That opportunity may never come again.
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