Before the end of the week, a three billion dollar casino of the future plan is anticipated to arrive on the desks of New York regulators.
On Friday, UE Resorts International and Jason Ader, a former Las Vegas Sands board member, are anticipated to submit a proposal for a casino resort with the working name Mirai, which translates to "future" in Japanese.
The multi-billion dollar resort would include a floor for cryptocurrency trading and a runway for flying automobiles. Hybrid-electric and completely electric vertical take-off and landing aircraft (eVTOL), which can go up to 154.6 miles on a single successful flight, are no longer the sole preserve of Saturday morning cartoons like The Jetsons.
The holding company of Okada Manila, UE Resorts International, Inc., announced a rebranding in early December 2021 to more accurately represent the original Japanese business's expanded focus on the global gaming markets. Following the merger of Jun Fujimoto's business with 26 Money Acquisition Corporation (Ader SPAC) in November, which released roughly $275 million in liquid capital, the company changed its name.
Co-founder and CEO of SpringOwl Asset Management is Jason Ader. He joined the board of Las Vegas Sands in 2009, and in 2014, he became the second-largest shareholder in the European online gaming behemoth Bwin.party by purchasing more than 50 million shares before it was acquired by GVC Holdings for $1.6 billion in 2016.
Ader joins the consortium as a special acquisitions company (SPAC), also known as a blank check company, which is a type of firm or, more precisely, an investment vehicle that exists only to carry out mergers and acquisitions.
In a recent interview with Bloomberg, World's Largest Crypto Trading Floor Ader stated: "The idea is to have a distinct, yet comprehensive, approach to entertainment that goes beyond casino games with some really unique components."
The proposal would include the biggest cryptocurrency trading floor in the world, an eSports arena, and a location for well-known events like the US Open, Fleet Week, and New York Fashion Week.
The prospect of a physical bitcoin exchange setting up on Wall Street like other financial exchanges is not welcomed by everyone. "If you want to have crypto regulated into oblivion, put it on a casino floor," a Reddit user allegedly wrote in a post.
The Mirai project, which means "future" in Japanese, is currently expected to cost $3,000,000,000, though that figure is subject to change depending on where the facilities would be built if it were approved. Ader and Fujimoto imagine a gambling hub in Manhattan, where the cost of real estate would cover the majority of expenses.
Westchester has flying cars? It's unlikely, but
Local leaders have reservations about a casino being built in Manhattan, though. Alternative sites are also being considered, such as Westchester and Long Island. However, the Long Island community has long opposed any attempt to build a casino there due to its polarized and well-organized opposition to gaming.
It's tough to picture any location in the neighboring counties, which are also competing to host any of the three NYC-area casino licenses approved by voters in a 2013 referendum, having a crypto trading floor and an eVTOL service.
Some analysts have advised against granting any casino licenses downstate or close to the metro area's population core because they believe any new establishments could stifle business at the Upstate casinos, which were also approved by the same ballot initiative.
Las Vegas Sands Corp., Wynn Resorts, Rush Street Gaming, Hard Rock International, Bally's Corporation, and the underdog candidate, Water Club in Manhattan, also met the deadline of December 10, 2021 to submit responses to the Gambling Board's request for proposals.