MGM departure raises worries about returns on Resorts World New York Operator Genting already dealing with tepid performance at other North American gaming venues Genting New York proposal includes some of industry’s highest tax rates MGM Resorts International (NYSE: MGM) rocked the gaming world Tuesday, announcing it’s bowing out of the New York City casino race and that’s raising concerns about the financial outlook for Resorts World New York in Queens. A rendering of Resorts World New York City should it receive one of the three downstate New York casino licenses. Following MGM’s departure from the competition, there are concerns about RWNY’s proposal. (Image: Resorts World New York City) Like MGM’s Empire City Casino in Yonkers was, the Genting-operated slots-only establishment is widely viewed as one of the frontrunners to land one of the three downstate permits. Still, analysts wonder if MGM’s departure from the competition signals that New York City-area casino licenses aren’t all they’re cracked up to be.…Read MoreCategory: Asia Pacific Gaming, Commercial Gaming, Financial, Mid-Atlantic, Regional News, asia pacific gaming, commercial gaming, mid-Atlantic, regional newsSource: Casino.org