As the competition heats up in the race to secure one of up to three New York casino licenses, MGM Resorts has unexpectedly pulled out of the running. The MGM Yonkers arm officially withdrew its commercial casino license application to the New York Gaming Commission and the Gaming Facility Location Board.

“Today, MGM Resorts made the difficult decision to withdraw its application for a commercial casino license in Yonkers, New York,” reads the statement from MGM Resorts. “Since submitting our application in June, the competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3 billion investment.

MGM dropping its Yonkers casino license application after years of planning and generating community support – and two months from the licensing decision – is one of the most shocking moves (in terms of unlikelihood) in the past decade of gaming industry developments

— Ryan Butler (@ButlerBets) October 14, 2025

“The newly defined competitive landscape – with four proposals clustered in a small geographic area – challenges the returns we initially anticipated from this project.

“Also, our proposal to renovate and expand Empire City Casino was predicated on the receipt of a 30-year commercial casino license but based on newly issued guidance from the State of New York we now expect to qualify for only a 15-year license. Taken together, these events result in a proposition that no longer aligns with our commitment to capital stewardship, nor to that of our real estate partner in Yonkers, VICI.”

The company went on to underline its continued presence in New York via the Empire City Casino, purchased back in 2019.

“We know our decision will impact many individuals; we remain committed to operating the property in its current format and believe it will continue to enjoy success serving customers in Yonkers and the surrounding communities,’ MGM Resorts wrote.

What’s next for the New York casino bid battle?

As it stands after MGM’s withdrawal, three bids remain for up to three slots: Citi Field in Queens, Genting Group’s Resorts World New York City, and Bally’s Bronx casino. Just because there are up to three licenses available, doesn’t mean they will all be approved.

The necessary licensing steps still need to take place, as well as paying a minimum of $500 million for the license itself.

Featured image: MGM Resorts

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