https://markets.businessinsider.com...-crypto-trading-floor-flying-car-2021-12 A plan for a $3 billion casino in New York's Manhattan includes a massive crypto-trading floor and a flying-car landing pad
Shalini Nagarajan
Dec. 8, 2021, 07:32 AM
New York could see a casino with a crypto-trading floor and landing areas for emerging g eVTOL tech.
UE Resorts International
• A pitch for a casino in New York features a huge crypto-trading floor and a flying-car landing pad.
• UE Resorts and Jason Ader, formerly on Las Vegas Sands' board, plan to submit a proposal for the $3 billion project Friday.
• The chosen name for the prospective resort is "Mirai" — "future" in Japanese.
A Las Vegas-seasoned asset manager and a gaming giant are eyeing an addition to New York's famed Manhattan skyline — a multibillion-dollar casino with space for trading cryptocurrencies and a landing pad for flying cars.
UE Resorts International, a subsidiary of Japan-based gaming tech provider Universal Entertainment Corporation, in partnership with Jason Ader, a former Las Vegas Sands board member, expects to submit a pitch for the casino to the local gambling regulator by Friday, according to plans seen by Insider.
Their proposed crypto trading floor should be the biggest in the world, and the project includes an esports arena and a venue for events such as New York Fashion Week, the US Open, and Fleet Week.
"The goal is to have a differentiated, but comprehensive, approach to entertainment that goes beyond casino gaming with some pretty cool elements," Ader told Bloomberg in a recent interview.
The proposal to include a trading floor stirs echoes of the debate whether trading digital currencies is investing or gambling, given their high price volatility. Regulator Gary Gensler, the Securities and Exchange Commission chief, has likened the market to casinos in the Wild West.
Some members of the Reddit community reacted positively to the news, though others were less keen. "If you want to get crypto regulated into oblivion, put it on a casino floor," one Redditor said.
"Mirai," the chosen name for the casino, means "future" in Japanese. The cost estimate for the project is $3 billion or more — though that might change depending on its location, which has not been finalized.
While UE Resorts and Ader prefer the site to be located in Manhattan, local officials have previously opposed the idea of a casino in the area. Other sites being considered are Long Island and neighboring counties, according to Bloomberg.
Ader's blank-check company, 26 Capital Acquisition Corp, will merge with a Philippines-based casino resort owned by Universal.
UE Resorts plans to eventually list its shares on the Nasdaq. The proposed New York-based casino is expected to be the company's only development in the US.
