MGM Resorts Upgrades Yonkers Raceway in New York
MGM Resorts is creating a new look for the raceway in New York. Recently the popular casino brand dropped $500 million to beef up the prestigious 122 year old harness track, Yonkers Raceway.
Shortly after Memorial Day, the upgrades began and quickly finished by June ninth. In addition, the new upgrades were finished just in time for opening day and lifting of COVID-19 restrictions.
Overhaul Way Past Due
Out of 122 years of operating, there have only been a few upgrades and some additional features over time. With the track opening in 1899, it was last recorded to have upgrades in 2006.
For a track this iconic, you hate to see it go that long without much of an improvement. However, there are some exciting opportunities coming for fans thanks to MGM.
Not only were the upgrades much needed, but fans of racing and gambling could have a unique opportunity in New York. With most of the restrictions lifted, guests can enjoy races and spend time playing in a luxurious casino.
MGM Takes the Reigns
MGM bought the track in 2019 for quite the price tag. Roughly $850 million later and MGM turned the purchase over to their MGM Growth Properties which is their real estate investment trust.
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MGM still has their operating rights to the casino, along with the track and could look to make more improvements in the future. For now, fans have to be excited at what they have accomplished so far.
The list of improvements are as follows:
- 8,000 tons of new surface material on oval track
- 6,000 tons of recycled track material and 64 tons of lime to make the track look attractive
- 14-degree banks on the turn
Yonkers Raceway – Upgrades for the World to See Soon
Even though the track opened up in early June, not everyone has had the chance to see it yet. This will all change soon with a few raves coming up in the year.
Yonkers will be hosting two prominent events. These include the $500,000 MGM Yonkers Trot and the $500,000 MGM Grand Messenger Stakes.
A lot of eyes will be on these two events specifically as the Triple Crown is nearing. On top of all of that attention, it will bring in a lot of guests to the area.
More Traffic Could Lead to More Gambling Revenue
The two races and more to come in the year could very well lead to more traffic to the Empire City Casino, which is connected to the oval track. New York is slightly restricted in some areas and has dampened the area with slow starts to businesses.
Empire City Casino, when fully running, has 5,000 slots and electronic games. Revenue was thought to take a major hit, but May specifically did not disappoint.
Revenues were actually up, as the casino posted $848.5 million in gross gaming revenue. Looking back at 2019, it was only slightly lower than this at $865.3 million.
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