YONKERS – Weeks after the State Gaming Commission and Gaming Facility Location Board agreed to consider the conversion of MGM Yonkers from an electronic gaming facility to a full-scale casino, the company has withdrawn its commercial casino license application.

“Since submitting our application in June, the competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3 billion investment.

“The newly defined competitive landscape – with four proposals clustering in a small geographic area – challenges the returns we initially anticipated from this project,” the company said in a prepared statement.

“Also, our proposal to renovate and expand Empire City Casino was predicted on the receipt of a 30-year commercial casino

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