Welcome to your source of quality news, articles, analysis and latest data.

Cryptocurrency Trading Floor at New York City Casino Pitch

On Dec. 10, money manager Jason Ader will submit plans for a casino in the New York area that will include the world’s largest cryptocurrency trading floor and a landing pad for flying cars, according to Ader.

The project also includes an esports arena and room for events such as New York Fashion Week, according to Ader, a former casino analyst. Depending on the site, which has yet to be decided, the project might cost $3 billion or more. Ader stated that he prefers the setting to be in Manhattan.

The goal is to have a differentiated but comprehensive approach to entertainment that goes beyond casino gaming with some pretty cool elements, he said in an interview.

The New York State Gaming Commission has set a deadline of Dec. 10 to accept requests for information for three new casino licenses in the state’s southernmost region. They are the final ones to be approved as part of a 2013 referendum initiative that allowed the construction of seven new nontribal casinos, four of which have already been built in upstate New York.

Ader revealed that his resort’s name will be Mirai, which means “future” in Japanese.

MGM Resorts International and Genting Group, which run slot-machine parlors at New York City-area horse-racing facilities, are expected to seek wider casino options, including table games. Bally’s Corp. and Las Vegas Sands Corp., which has held preliminary negotiations with Mets owner Steve Cohen regarding a casino near Citi Field, are two other operators that have expressed interest.

Local legislators have spoken out against a casino in Manhattan. Other locations on Long Island and in nearby counties are being considered.

Ader, a former member of the Sands board of directors, will make his bid through a new company he’s developing with Universal Entertainment Corp., a big Japanese gambling conglomerate. Ader’s blank check company, 26 Capital Acquisition Corp., is merging with a Universal-owned casino resort in the Philippines. According to him, the new firm would be debt-free and will benefit from Universal’s experience building the multibillion-dollar Okada Manila resort overseas.

Share Post
Written by
No comments

Sorry, the comment form is closed at this time.