Furthermore, we are delighted to have one of our limited partners, NYLCAP, co-invest alongside us in this transaction.” Timothy J. Given its prime location in the number one population center in the U.S., Yonkers Raceway is well positioned for future success. Tim Rooney and the entire management team have done a superb job at transforming the Company into one of the largest gaming facilities in the Northeast. “We are very pleased to have provided this financing. It also demonstrates the strong relationships MML maintains with its limited partners such as NYLCAP. This is the twelfth investment made from MML’s fourth fund and is another example of the firms ability to source, structure and close proprietary transactions. Following New York State legislation authorizing VGMs at the State’s horse racing facilities, YRC officially opened Empire City Gaming in late 2006.
The Company was acquired by the Rooney family in 1972. Yonkers Raceway was founded in 1899 as the Empire City Trotting Club and became one of the preeminent horse racing facilities in the U.S. Located 15 miles north of mid-town Manhattan, Yonkers Raceway is home to Empire City Gaming which is New York State’s largest gaming facility with more than 5,300 video gaming machines (“VGMs”) – similar to Las Vegas style slot machines – in its 140,000 square foot gaming facility and averages more than 20,000 visitors each day.
