05:20 PM EDT, 10/14/2025 (MT Newswires) -- MGM Resorts International's ( MGM ) subsidiary withdrew its application for a commercial casino license in Yonkers, New York, citing a shift in competitive and economic assumptions that altered return expectations its proposed $2.3 billion investment.

"The newly defined competitive landscape, with four proposals clustered in a small geographic area, challenges the returns we initially anticipated from this project," MGM said Tuesday in a statement.

"Our proposal to renovate and expand Empire City Casino was predicated on the receipt of a 30-year commercial casino license but based on newly issued guidance from the state of New York, we now expect to qualify for only a 15-year license," the company said.

The company reaffirmed its commitment to operating the Empire City Casino in its current format, maintaining its presence in Yonkers.