The sale of the Empire City Casino in Yonkers to MGM is one huge deal, with some $850 million being offered by MGM. It is a deal that the current owners of the property are eager to sign off.
In fact, all sides had been pinning their hopes on the Gaming Commission approving the sale yesterday at a planned meeting to discuss and approve or reject the deal, but late on Wednesday it was announced that meeting was to be cancelled.
Rumours did start to spread as to why the meeting had been cancelled and whether the deal would not be going ahead due to a range of different possible reasons, and both sides must have been scratching their heads as to what the reason for the cancelation of the meeting was all about.
However, in an attempt to squash any rumours or problems with that deal, the NYS Gaming Commission announced that the meeting had simply been cancelled and postponed due simply to the fact that they had been unable to get enough of their board members to the meeting.
Whilst two of the five board members had been able to attend three of them were not available, and as such it would not be possible for the deal to be discussed at length with three fifths of the board members missing.
No set date has yet been announced for the rescheduled meeting, however it isn’t expected to be set too far in the future with both sides eager for it to be completed, and one would imagine the Gaming Commission is also keen to rubber stamp the deal for a smooth transition of ownership.
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