MGM Resorts invests $500k for Yonkers Raceway Track
Business returned to a renovated Yonkers Raceway in early June as improvements concluded.
MGM Resorts International revealed that it invested $.5m into Yonkers Raceway before its reopening on June 9.
MGM took ownership of Yonkers Raceway, as well as Empire City Casino, in January 2019 and these improvements saw the 122-year-old raceway updated for the first time since 2006.
This injection of funds went toward resurfacing the track, improving its quality and eliminating unevenness. Completed in 10 days, this project also saw new LED lighting added to the track and the improvement of the raceway’s photo finish cameras.
Chief financial officer of MGM, Ed Domingo said, “We are incredibly proud to make this significant investment in the sport. We have a strong record of providing one of the safest harness tracks in the country, and this regrading will not only protect that record but will enhance the competitiveness and excitement of our races. We are committed to upholding the legacy of Yonkers Raceway as one of the premier harness racing venues, not only in the United States but in the world.”
These improvements will also attract more business to the casino attached to Yonkers Raceway.
Empire City Casino includes over 5,000 electronic table games and slot machines. Until recently only 3,216 of these machines had been available for use, but with New York lifting restrictions on commercial settings, it’s likely the casino will begin operating at full capacity soon.
May saw $848.5m played in the casino, the highest number since May 2019. Furthermore, Empire City recorded a $56.4m net win, which is also the highest number recorded in the last two years. Over 50% of this profit will be given to the New York state educational fund.
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