Empire City Casino Announces Agreement with MGM Resorts International for Sale of Racing and Gaming Property and Operations

Yonkers, New York – Yonkers Racing Corporation, owner and operator of the gaming and racing
facilities of Empire City Casino (“Empire City”), one of the largest gaming facilities in the U.S. and
one of only two facilities licensed to serve the New York City metropolitan area, today announced that
it has entered into an agreement to sell its racing and gaming property and operations to MGM Resorts
International (“MGM Resorts”) (NYSE: MGM).