MGM Resorts International’s Empire City Casino in Yonkers, NY is maintaining strong performance despite new competition. The launch of table games at Resorts World New York in April didn’t hinder Empire City’s growth. According to Jefferies analyst David Katz, the casino’s second-quarter gross gaming revenue (GGR) saw a 4.5% increase from the previous year. This is noteworthy, given Resorts World New York’s GGR surged 61.9% just in April and May.
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Empire City’s Resilience Against Competition
In the crowded New York City market, competition is fierce, yet Empire City’s growth remains significant. Resorts World New York’s expansion into table games was expected to pose a challenge, but Empire City held its ground. As Katz points out, both casinos continue to thrive due to the dense NYC population and the geographical distance — about a one-hour drive — between them. Still, empire City’s decision to step back from the competition for New York’s three downstate casino licenses last October might have come as a surprise. However, the strategy to remain a slots-focused venue hasn’t impeded its financial health.
Upcoming New York Casino Developments
The gaming market in NYC is set to evolve further. And new casinos from Hard Rock and Bally’s are slated to open in Queens and the Bronx, respectively, by 2030. These venues will no doubt stir up the competitive dynamics, sitting only about a 22-minute drive from Empire City. And despite this, Katz remains optimistic about Empire City’s and Resorts World’s ability to expand within the current market before these new players arrive. Meanwhile, Resorts World’s transition to include table games marks a major development but hasn’t yet thrown Empire City off its game. Katz believes both properties have the potential to capitalize on market growth.
Stagnant Investment in Kansas City Casinos
Switching focus to another regional market, Caesars Entertainment’s Kansas City operations have been facing challenges. The second quarter saw a downturn in GGR for Caesars’ three casinos in the area. Harrah’s Kansas City, in particular, is experiencing stiff competition from four nearby casinos. The Kansas City market hasn’t benefitted from recent capital investments, according to Katz. Public operators like Caesars, Boyd Gaming, and Penn Entertainment have neglected major upgrades. The anticipated acquisition of Caesars by Tilman Fertitta could lead to property sales, though interest in Kansas City remains lukewarm. Katz suggests that a fresh investment by any operator could improve this sluggish market.
Future Outlook
Both MGM’s Empire City and Resorts World are well-positioned to continue thriving through 2030, despite upcoming competition. As for Kansas City’s gaming scene, the potential for change rests on strategic investments. Whether any operator decides to revamp their properties remains to be seen, but such moves could shake things up substantially.
Eri Gaitu leads the news desk at Best in Slot, tracking breaking developments across the gambling world in real time. From exclusive bonus offers and casino launches to licensing updates and regulatory shifts, Eri ensures readers are always first to know about the changes that matter to their gaming experience.
