ATLANTIC CITY — The parent company of Borgata Hotel Casino & Spa on Tuesday dropped its bid to build a full-blown casino near New York City.

The unexpected decision by MGM Resorts International to end its effort to expand the Empire City Casino at the Yonkers Racetrack leaves three surviving proposals for the up to three new casino licenses New York gambling regulators plan to issue by the end of the year.

The company said the competitive landscape surrounding the soon-to-expand casino market in or near New York City no longer makes financial sense.

“Today, MGM Resorts made the difficult decision to withdraw its application for a commercial casino license in Yonkers, New York," the company said in a statement issued at 5 p.m. "Since submitting our application in June, the competitive an

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