MGM Resorts International has announced a major investment plan in order to revitalize New York’s Yonkers Raceway. The gamin conglomerated has decided to invest the staggering amount of US$500 million into the state’s track which becomes 122-year-old harness track this year. The revamp plan comes at a great time as the horse racing industry in the state prepares for life after the unprecedented situation.
The overhaul of the horse racing oval is long-overdue as the last time it received any significant upgrades was back in 2006. The venue is one of the most iconic properties for harness racing in the state, and it was purchased by the company in 2019 when MGM Resorts paid US$850 million for it in both cash and stocks.
Time for Upgrades
Still, over the last 15 years the horse racing facility has received some improvements but nowhere near the newest US$500 million recent ones. The latest addition to the track was over 8,000 tons of new surface installed on the oval’s half-mile sector. This included 6,000 tons of recycled track material, along with 64 tons of lime and other surfacing materials in order to make the track’s surface much more robust.
The revamping process has already started during the off-season, on May 31, and concluded on June 9. This was just in time for the start of the new season, and unprecedented situation restrictions were eased by the NYS government. The revamped track can now hold events for 234 days on an annual basis, thus returning to its normal way of operations.
MGM Resorts plans on showcasing some of the new features at the horse racing facility in the upcoming weeks when the track is scheduled to host its US$500,00 MGM Yonkers Trot and the US$500,000 MGM Grand Messenger Stakes. Those events are part of the harness racing’s Triple Crown legs next month on July 2. The company expects the equine races to attract many fans who will be able to enjoy the innovations.
Additionally, the company believes that the upcoming racing season and the new upgrades at the track will be able to attract a bigger crowd at its Empire City Casino. The gaming venue is attached to the track and offers gambling enthusiasts the chance of playing on over 5,000 slot machines and electronic table games.
NYRA Bet Deal
The gaming company has most recently reached an agreement with NYRA Bet, which is the official online betting platform of the New York Racing Association. Through this deal, the company will have access to the platform’s ultimate set of Thoroughbred, Harness, and Quarter Horse racing offerings from more than 200 tracks worldwide. Fans can access the app via Android, iOS, and desktop devices.
MGM Resorts acknowledges its responsibility towards its many gambling fans and the corporation has most recently acquired the services of GameSense. This is a player education program designed by British Columbia’s BCLC and provides guidelines and advice to players that are experiencing difficulties in their gambling habits. The company utilizes the program in its Massachusetts casino properties.
Source: Gibbs, Eric “MGM Injects $500m to Upgrade Yonkers Raceway”, Gambling News, June 21, 201