MGM’s NYC Application Withdrawal: The Big Apple Shocker for the Casino License Race

• MGM pulls out of New York City casino application, citing shifting economic assumptions
• Company also mentioned likelihood of receiving a 15-year license, half of what was originally expected
• It’s among the casino industry’s most shocking news this year

---

In a surprising turn of events, MGM Resorts International, known for its iconic Bellagio brand, has withdrawn from the New York City competition, a move that fundamentally shifts the landscape for any operator seeking a casino license in the region. This decision is a noteworthy event in the world of casino gaming of 2025, as the availability of a coveted casino license continues to dictate the strategic maneuvers of the industrys biggest players.

According to MGM, several shifting economic assumptions led to this difficult decision. The company initially aimed to convert the Empire City Casino in Yonkers into a Strip-style gaming venue, but had to reconsider due to the changing market conditions.

“Today, MGM Resorts made the difficult decision to withdraw its application for a commercial casino license in Yonkers, New York. 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 stated.

At the start of the process, there were four competitors vying for three downstate casino permits: Bally’s, Hard Rock International, MGM, and Resorts World New York.

MGM Highlights Geographic Factors in Its Decision

Geographical considerations also played a significant role in MGM’s change in direction. The company noted that four bids were