Empire City Casino at Yonkers Raceway announced today that it would “explore alternatives,” including strategic partnerships, to expand the casino’s gaming and entertainment offerings.
The Rooney family, which has owned Empire City Casino and Yonkers Raceway for over 45 years, said in a statement that it will look for the “right strategic partner” to transform Empire’s nearly 100-acre property into a global entertainment destination.
Empire City has retained J.P. Morgan Securities LLC to advise the casino operator through the process, though it said in the statement that there is no assurance the process will result in any transaction.
“We believe our prime location and outstanding accessibility will serve as a unique platform to create one of the world’s leading gaming, hospitality and entertainment venues,” said Timothy J. Rooney, president and CEO of Empire City. “We are excited to explore opportunities with potential partners who can build on the strong foundation we have established.”
The announcement comes as Empire City will shortly face new competition to its north. Monticello-based Empire Resorts Inc. is preparing to open in March 2018 the $1.2 billion Resorts World Catskills casino and resort in Sullivan County.
Empire City completed a 65,000-square-foot expansion in 2012 that added gaming and restaurant space. The casino and raceway features more than 5,000 slot machines and electronic table gaming.