Unusual Casino Plan Set to Be Unveiled for NY on December 10
Money manager Jason Ader will submit casino plans for a venue in New York on December 10, with odd options like a landing pad for flying cards and a trading floor for cryptocurrency.
The New York State Gaming Commission has issued a deadline for December 10 to receive a request for information regarding three potential casino licenses for the southern portion of the state. These licenses are the last the state can issue based on the 2013 ballot measure that allowed for seven new commercial casinos. Four have already been created in the upstate area. We have now learned that money manager Jason Ader plans to submit an RFI and his plans for a casino are really a bit out of the box, including flying cars and cryptocurrency.
What’s the Plan?
In a recent interview, Ader revealed he wants to create a casino in the New York City area that will be unique. The plans include offering a trading floor for cryptocurrency as well as a landing pad for when flying cars are created.
As a former casino analyst, Ader also pointed out that his plans include space for the popular New York Fashion Week and esports. Depending on the location of the casino, the plans might cost around $3 billion to complete.
The project is focused on the Manhattan area and would offer something other than the typical casino experience. It would go beyond casino gaming and offer additional entertainment with what Ader calls ‘pretty cool elements’.
The resort would be known as Mirai, a term that means future in the Japanese language. The plans thus far are really out there and it seems some elements may cause regulators to pause and not even consider the idea.
The bid by Ader will come from 26 Capital Acquisition Corp., an organization he founded. He is working with Universal Entertainment Corp. to bring the idea to life. The new company has no debt, according to Ader, and will benefit from the experience of Universal when it comes to creating the casino. The company was involved in the Okada Manila resort which is located overseas.
Other Companies Involved in the Licensing Process
The proposal by Ader is not the only one connected to the casino licensing. MGM Resorts International and Genting Group are both expected to vie for licensing as well. Both operate slot games at horse racing tracks in the area.
The two companies already offer full casino gaming in other areas and with facilities already set up, they are in a perfect position to offer more games as a full license holder. This would allow the properties to add table games which would bring in more customers.
Additional operators have shown interest too, such as Bally’s Corporation and Las Vegas Sands, but it is expected that the existing casinos will be given first preference. However, that is not guaranteed.
Local legislators are not happy with the potential for a casino in the Manhattan area. Other sites are under consideration including Long Island and neighboring areas. It really may all depend on which operator is chosen and what they plan to offer the region.
Either way, more casinos will mean that players have access to more gaming in the south section of the state and won’t have to travel to reach a gaming venue. It will also appeal to players located in other states as they can travel easier to the Manhattan area to play than where gaming is offered now.
The full details of Ader’s plan along with any others should be revealed by the end of the week. It will be interesting to see what the full plans are and who might have a shot at obtaining licensing.