31, 2022 and MGM Resorts accepts such license by Dec. Furthermore, MGM Resorts has agreed to pay additional consideration of $50 million if Empire City is awarded a license for live gambling table games on or prior to Dec. MGM Cotai, China Diaoyutai MGM Hospitality Attention New York State residents: If you or someone you know has a gambling problem click here to find help close to home or call the free, confidential HOPEline at 1-87 or Text 467369. MGM Resorts expects that approximately $260 million of the remaining consideration will be in the form of MGM Resorts common stock. MGM Resorts will pay the approximately $850 million, subject to customary working capital and other adjustments, including the refinancing of Empire City's outstanding debt, which is expected to be approximately $245 million at the time of closing. ![]() We believe this transaction enhances our free cash flow profile and presents attractive future opportunities for the Company, and we look forward to welcoming the Empire City team and guests to the MGM Resorts family." ![]() "This acquisition represents an excellent opportunity to further solidify our presence on the East Coast, and in particular, expand our reach into the high-density New York City region. "We are excited to announce the addition of Empire City to the MGM Resorts portfolio," said Jim Murren, chairman and CEO of MGM Resorts International.
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