MGM RESORTS UNVEILS VISION FOR MGM EMPIRE CITY

Rendering of MGM Empire City Exterior

• If Granted Full-Scale Commercial Casino License, Empire City Casino by MGM Resorts Will Transition into MGM Empire City; MGM Empire City Will Feature World-Class Entertainment Venue,
• Exciting New Dining Experiences and More

MGM Resorts International (NYSE: MGM) today unveiled its vision to transition Empire City Casino by MGM Resorts into a world-class entertainment destination, MGM Empire City, if awarded a commercial casino license for its historic Yonkers, New York site. Key elements of the phase one design include a comprehensive casino floor redevelopment and expansion, 5,000-capacity entertainment venue, state-of-the-art BetMGM sportsbook, food and beverage outlets by celebrated chefs, cocktail bars and lounges, technologically advanced meeting spaces and more.

MGM RESORTS' VISION FOR MGM EMPIRE CITY

MGM Empire City's development plans feature a complete property redevelopment shifting from a video lottery terminal racino into a full-scale commercial casino with live-dealer table games, the newest slot machines and a high-limit gaming area for the most discerning casino guests. The design includes the addition of several new destination dining experiences, including a modern steakhouse, a casual quick-serve Italian American experience and an authentic Asian noodle bar and eatery. Existing venues Big Kitchen food court and The Pub sports bar will also transform into new, high-end food concepts. The plan also includes development of a new parking garage to significantly enhance the guest arrival experience while also providing visitors with direct and convenient access to the casino and its amenities.

The entertainment venue will be the first-of-its-kind in the region, hosting A-list performers and events in a spectacular 5,000-capacity setting with unrivaled views, cutting-edge acoustics and dedicated amenities. MGM Resorts is renowned for its entertainment offerings as the third-largest ticket seller for live performances in the United States and the capacity to seat more than 100,000 people a night across entertainment venues around the world. MGM Empire City's entertainment venue will boost the region's economy, attracting new events to the market and bringing together locals and tourists alike.

A commercial casino license will also enable MGM Empire City to introduce The BetMGM Sportsbook & Lounge, offering guests lively game day experiences with a 112-foot wrap-around LED screen, stadium seating, VIP areas, multiple betting kiosks and food and beverage operations.

"MGM Resorts has a long and proud history of delivering world-class entertainment and gaming experiences, and we couldn't be more excited to build on that track record at MGM Empire City,” said Bill Hornbuckle, President and Chief Executive Officer, MGM Resorts. “A full-scale casino and entertainment destination will provide unparalleled experiences, create thousands of jobs, boost the state's economy, and be a game-changer for the entire region.”

Yonkers Mayor Mike Spano said, “This is a momentous opportunity for the City of Yonkers, and I'm excited for the future, knowing the development of MGM Empire City will create thousands of good-paying union jobs and the economic growth that will ensure our city continues to flourish and prosper. Already drawing millions of guests annually, this development plan will solidify Empire City's status as a premier entertainment destination. Generations of Yonkers residents have worked at, enjoyed, and supported this historic property for 125 years, and I am excited about the significant impacts this project will have for residents now and for the next 125 years.”

Ed Domingo, General Manager of Empire City Casino, said, “When MGM Resorts acquired Empire City Casino in 2019, we knew we were becoming stewards of a historic institution that has served generations of New Yorkers as a gathering place for entertainment, a source of jobs for the community, and a driver of economic development. As MGM Resorts prepares to enter its sixth year at the helm of this iconic property, we are excited to be able to combine the knowledge we have developed of the New York market with our expertise as a global entertainment brand, to bring the next chapter of New York's entertainment landscape to the incredible community we are part of.”

With 31 destinations around the world, MGM Resorts offer best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, sports betting and online gaming operations.

EMPIRE CITY – A DEDICATED COMMUNITY PARTNER

Empire City boasts the largest casino floor in the company's domestic portfolio at 160,000 square feet and is also one of the largest gaming floors in the country. It has been operating since October 2006 with video lottery terminals and electronic table games under its current lottery license. The site is also home to the historic Yonkers Raceway, a world-renowned horse racing harness track that has been operating since 1899. MGM Resorts remains committed to continuing racing operations and recently made significant investments in track renovations.

Empire City is Yonkers's largest tax contributor and one of its largest private employers. Future development plans will substantially boost workforce numbers with thousands of direct hires and over 10,000 anticipated indirect and induced jobs. The property currently spends tens of millions annually on local goods and services, keeping New York dollars in the state.

MGM Resorts is the market share leader across many non-Vegas markets, generating significant tax revenue for states to use for key programs. A full commercial gaming license will allow MGM Resorts to offer a casino experience that is competitive to the offerings of neighboring states, deterring the current flow of entertainment dollars from New York to gaming and entertainment properties in other states. The commercial license is also expected to spark more than $1 billion in new economic activity for the region.

The development plan will move forward if MGM Resorts is successful in securing one of three available full commercial casino licenses currently up for bid in the State of New York. Application process and timeline will be provided by the state's Gaming Facility Location Board in the coming months.

For more information on MGM Empire City development plans, please visit https://bit.ly/MGM-EC-Future. For additional images and sizzle reel, please visit https://bit.ly/MGMEmpireCity

* MGM Resorts International  https://www.mgmresorts.com/
* Josh Knoller at josh@nicholaslence.com