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A Large Crypto-trading Floor Is Going To Be Part Of A $3 Billion Casino In Manhattan, New York

A multibillion-dollar casino with space for cryptocurrency trading and a landing pad for flying cars is being considered by a Las Vegas-based asset management and a gaming conglomerate as an addition to New York’s iconic Manhattan skyline.

According to plans seen by Insider, UE Resorts International, a subsidiary of Japan-based gaming technology provider Universal Entertainment Corporation, in collaboration with Jason Ader, a former Las Vegas Sands board member, plans to submit a pitch for the casino to the local gambling regulator by Friday.

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Their proposed crypto trading floor is expected to be the world’s largest, and the project would also contain an esports arena and a venue for events like 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,” In a recent interview, Ader stated.

Given the extreme price volatility of digital currencies, the suggestion to introduce a trading floor mirrors the argument over whether trading them is investing or gambling. The Securities and Exchange Commission’s head regulator, Gary Gensler, has compared the market to casinos in the Wild West.

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The chosen name for the casino is “Mirai,” which means “future” in Japanese. The project’s estimated cost is $3 billion or more, though this could fluctuate depending on its final site, which has yet to be determined.

Local leaders have previously rejected the concept of a casino in the area, despite the fact that UE Resorts and Ader desire the location to be in Manhattan. According to Bloomberg, Long Island and nearby counties are also being examined.

26 Capital Acquisition Corp, Ader’s blank-check company, will merge with a Universal-owned casino resort in the Philippines.

UE Resorts intends to float its stock on the Nasdaq in the future. The proposed casino in New York is intended to be the company’s only project in the United States.