Publisher Brian Harrod: Real "Billions" Coming To Yonkers.

 

INVESTOR CALL: If #MGM earns one of the licenses, the company would significantly expand its #Yonkers facility by adding billions of dollars’ worth of upgrades, including table games, slot machines and amenities found at its various resorts around the world. QUOTE: “We had hoped to invest up to a couple of billion in the first round to put us into the table games business, to expand some of the amenities and put in a much-needed parking garage there, to put an entertainment facility there and potentially some other things,” MGM Resorts CEO and President #WilliamHornbuckle said on an investor call this week.

Mr. Hornbuckle didn’t offer more specifics as to just how many billions of dollars would go into the upgrade in Yonkers, which is a roughly 15-mile drive from Times Square in Manhattan. The MGM leadership team did provide a few details on what kind of overhaul the 97-acre Empire City Casino would receive if the company earns the right to develop a full-scale gambling operation there. The video lottery terminals — which are preprogrammed to pay a set number of times — would get swapped out for actual slot machines, which are unpredictable and operate on a game of chance. Table games would be added as well as other amenities; however, Mr. Hornbuckle didn’t elaborate on what kind of offerings beyond the gambling hall and parking facility were under consideration. It appears MGM is approaching the project as one that would likely cater more to local and regional gamblers rather than bring in gamblers from around the world, like its Las Vegas resorts. “We think that will attract the kind of market that’s available to us both in the neighborhoods and the surrounding areas,” Mr. Hornbuckle said. In the MGM Resorts C-suite, Mr. Hornbuckle appears to be taking a slow and steady approach to the potential project in The City of Yonkers. “We had to ultimately get our head around the master plan, which we’re working on diligently now,” he said. “But it’s a couple of billion dollars, and we’re going to be thoughtful about how quickly we do go when it’s all said and done.” https://www.facebook.com/groups/YonkersNewswire/posts/3235487893375433/