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A Jan. 3 closing date has been targeted, saidJoe Faraldo, president of the state's Standardbred OwnersAssociation who said he was recently briefed by MGM and Yonkers Raceway officials about the looming sale. Neither Yonkers Raceway management nor the Gaming Commission would comment about the sale. Gaming Commission spokesman Brad Maione refused to release MGM's application to the state for the sale, saying it is not public. At least parts of the application are clearly public and should be released,said Robert Freeman, executive director of the state Committee on Open Government. "There may be elements of it that would fall in the scope of the so-called trade secret exception, but many elements of it, Im sure, would be absolutely public," Freeman said. MGM will need a state licenses for harness racing andsimulcasting, as well as one to run Empire City, the state's second largest video-lottery facility. Spano said he believes MGM will want to build a hotel and add an entertainment venue that has synergy with its 28 resorts across the globe. Only half of the97-acre property is developed. "Its a world-class entertainment venue, and its right here in our city, which is in the heart of the metropolitan area," Spano said. "It could be really good for Yonkers because of the investment they can make because they have deep pockets." The Rooney family had long sought to build a hotel and parking garage but was unable to put together the financial package to make it happen.
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