New York-listed casino operator MGM Resorts International has completed its $850m acquisition of New York’s Empire City Casino in Yonkers.

Following an agreement between the two companies last May, MGM Resorts has completed the acquisition with cash of $360m, the issuance of 9.4m shares of common stock, and the assumption of $246m in debt.

MGM Resorts has also agreed to pay an additional $50m if Empire City is awarded a license for live table games on or prior to 31 December 2022, and MGM Resorts accepts such license by 31 December 2024.

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