Among other things, state gambling regulators were expected to discuss now MGM Resorts International’s suggestion to acquire Yonkers Raceway and Empire City Casino in Yonkers, New York.
The Gambling Commission stated in a late Wednesday Facebook article that its meeting “was postponed until further notice. ” it didn’t provide additional detail about why it has decided to cancel it. Within an email to neighborhood information outlet The Journal News, Commission spokesman Brad Maione said that the decision was because of ldquo;problems using a quorum of members. ” It is still unknown when the meeting will happen.
As Stated before, the proposed acquisition of the Yonkers Raceway racetrack along with the nearby Empire City Casino was about the Gambling Commission’s Thursday agenda. Las Vegas gaming and hospitality firm MGM Resorts International announced last May its intention to purchase the two centers as part of its expansion plans. MGM said it would pay $850-million for its racetrack and the local casino.
The casino company needs approval from the NYS Gambling Commission so as to be able to finish the deal. That approval was anticipated to be allowed at now ’therefore meeting.
Yonkers Raceway first started doors in 1899. The racetrack was owned and handled by the Rooney family since 1972. The nearby Empire City Casino now runs nearly 5,300 video-lottery terminals, but MGM allegedly calms hopes to turn that facility to a full-scale casino.
MGM’s Strategy for New York
MGM has remained tight-lipped as to what its plans for its racetrack and the nearby gaming center include. In addition, the Gambling Commission hasn’t published any details of the casino operator’s program, regardless of criticism from the New York State Committee on Open Government.
Yonkers Mayor Mike Spano said last month that he has fulfilled with MGM agents on many of occasions since the deal was announced and that he believes the firm has plans for a hotel and entertainment venue. The official further noted that while MGM was clearly guarded about its plans for both facilities, it has promised it has “enormous plans.
Bearing in mind the organization ’s portfolio of properties, it will likely seek a license for a full size, Las Vegas-style casino games. Nevertheless, under New York’s gambling law, the issuance of these licenses is not set to occur until 2023.
In addition, MGM has shown interest to expand its presence in the booming US sports betting market, most recently with gambling partnerships with Major League Baseball, the National Basketball Association, and the National Hockey League.
A bill calling for the legalization of sports gambling in New York was filed in mid-December and was referred to the Senate Racing, Gaming and Wagering Committee to be discussed throughout the 2019 legislative session, which is set to convene on January 9.
Sen. John Addabbo, the incoming Chairman of the Committee, spearheaded the piece of legislation. Generally speaking, it allows for cellular betting on the state’s land and carries a payout to professional sports leagues. The bill additionally requires licensed operators to buy “official data” from the leagues or third party partners.
With few exceptions, gambling is prohibited in New York. This usually means that the state’s current gambling law will have to be amended to allow gambling expansion in order for Sen. Addabbo’s invoice to be able to take effect.
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