MGM Resorts International Seeks To Acquire New York’s Empire City Casino
MGM Resorts International is looking to acquire New York’s Empire City Casino to further their market presence across the globe. Increasing its market share, the gambling company landed an agreement deal to purchase the casino for $850 million. MGM will, in addition to the purchase price, take on $245 million in debts which includes the horse racing track.
MGM made the agreement deal with Empire’s owners, the Rooney family. The Rooney’s are well-known throughout and are the owners of the Pittsburg Steelers NFL team. The purchasing deal comes after the US Supreme Court overturned the Professional and Amateur Sports Protection Act.
Tim Rooney, President and CEO of Empire City released a statement saying,
“Our vision for this property has always been to develop it into one of the world’s greatest entertainment destinations. We have been a partner of New York state and its communities for 46 years, and it was important to us that we identify an entity that could build on the strong foundation we have established and bring our vision to fruition. We are confident we have found that in MGM Resorts, one of the premier gaming entities in the world.”