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MGM celebrates $5B contribution to NY via Empire City casino
The American global hospitality and entertainment company MGM Resorts International announced its achievement of more than $5 billion in Empire City Casino and Yonkers Raceway since its acquisition in 2019.
The generated $5 billion was funded to K-12 public education. The biggest contributors to the funding are Empire City Casino’s more than 4,400 video lottery terminals (VLTs) with a monthly contribution of $25 million.
MGM Resorts stated:
“The $5 billion in education funds represents approximately 30% of the total funds generated for education by all VLT casinos across the state, reinforcing Empire City’s pivotal role in New York’s economic well-being. On average, Empire City has contributed more than $25 million per month to education. In addition to supporting education, Empire City also generates hundreds of millions of dollars annually to support harness racing and both state and local governments.”
MGM Resorts has invested in upgrading the property and is eyeing securing one of New York’s downstate casino licenses.
The statement continues:
“Empire City is preparing to secure a commercial casino license that would allow it to replace computerized electronic table games with live dealers, offer retail sports betting, Class III Vegas-style slot machines, and expanded amenities. MGM Resorts recently unveiled its vision to transform Empire City into a world-class entertainment destination, MGM Empire City, should it be awarded a commercial casino license.”
The proposed transformation is expected to open 2,500 direct job vacancies and generate more than $1 billion annually.
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