In an effort to stay relevant amid a changing industry, MGM Resorts International has decided to invest a significant amount of money in Yonkers Raceway. The company has purchased a 61 acre parcel of land adjacent to the raceway that will be used to build a nine-story hotel.

The biggest casino deal in New York State history took place last week when MGM Resorts International announced plans to build a $1 billion, 3,000-slot facility and another $700 million racino on the site of the Yonkers Raceway in the Bronx.

In an effort to keep up with the times, MGM Resorts has invested in a new raceway. The new facility will encompass a modern track, bar, retail shop, and event space. The project will be built in an area that is home to a popular raceway that is over 100 years old.. Read more about mgm resorts stock and let us know what you think.

MGM Resorts International has announced a major investment plan to revitalize the Yonkers Racetrack in New York. The Gamin conglomerate has decided to invest a whopping $500 million in the national railway, which turns 122 this year. The redevelopment plan came just in time as the state’s horse racing industry prepares for life after an unprecedented situation.

The race oval is long overdue for renewal, as it was last thoroughly done in 2006. The facility is one of the state’s most iconic horse racing venues and was acquired by MGM Resorts in 2019, when the company paid $850 million in cash and stock to buy it.

Time to upgrade

Nonetheless, the horse racing complex has undergone some improvements over the past 15 years, but they don’t come close to the recent $500 million improvements. More recently, over 8,000 tons of new pavement was laid on a half-mile section of the oval. This includes 6,000 tonnes of recycled material for the runway and 64 tonnes of lime and other surfacing materials to make the surface of the runway more durable.

Reconstruction began in the off-season, on May 31, and was on May 9. June completed. This happened just in time for the start of the new season, and the unprecedented situational restrictions were relaxed by the New York State government. The renovated runway can now be used for events 234 days a year, allowing it to return to normal operation.

MGM Resorts plans to showcase some of the track’s new features in the coming weeks during the $500,000 MGM Yonkers Trot and the $500,000 MGM Grand Messenger Stakes. These races are part of the Triple Crown race that will take place next month at 2nd. July takes place. The company expects horse racing to attract many fans who will appreciate this novelty.

In addition, the company believes the upcoming racing season and new improvements to the racetrack will attract more spectators to its Empire City casino. The casino is located right next to the racetrack and offers gambling enthusiasts the opportunity to play on over 5,000 slot machines and electronic table games.

NYRA Betting

More recently, the betting company signed an agreement with NYRA Bet, the official online betting platform of the New York Racing Association. The agreement gives the company access to a full range of Thoroughbred, Harness and Quarter Horse races at over 200 racecourses worldwide. Fans can access the app via Android, iOS and desktop devices.

GameSense

MGM Resorts is aware of its responsibility to its many gaming enthusiasts and recently acquired the services of GameSense. This is a player education program developed by BCLC to guide players who are struggling with their gambling habits. The company uses this program in its casinos in Massachusetts.

Source: Gibbs, Eric MGM puts $500 million into Yonkers racetrack upgrade, Gaming News, 21. June 201.

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