If you are Jason Ader, it seems that the sky is not the limit. The reputed money manager is now onto his next big venture as he is submitting a plan to build a futuristic casino that will feature a landing pad for flying cars and what is, in his account, the world’s biggest cryptocurrency trading floor. His proposal is an attempt to secure the last licenses up for grabs as per a ballot measure that was passed in 2013.
Ader is definitely aiming big, but whether the project can see the light of day would take a leap of faith on the part of regulators in the state and overcome some pushback from local legislators. Ader will argue his case this Friday, December 10, suggesting that the project and venue can be so much more as well.
Shooting for the Stars, Landing at Mirai
While the projected cost of the casino is locked in as $3 billion, it can easily go up. Ader intends to keep expanding on what appears to be a bizarre mash of opportunities for industries such as blockchain and even competitive gaming, or as it is known, esports and even the New York Fashion Week.
Ader’s preferred location is in Manhattan, but whether the project is cleared and the location approved is another matter altogether. Giving an interview on Tuesday, Ader said that the end goal with the project is to have a new but comprehensive approach to entertainment. It’s not just about casino gaming, he explains:
“The goal is to have a differentiated but comprehensive approach to entertainment that goes beyond casino gaming with some pretty cool elements.”
Jason Ader
This comes in the broader context of the New York State Gaming Commission (NYSGC) already collecting calls for proposals for three new casino licenses that should be located in the southern part of the state, potentially competing with New Jersey.
Securing Partnership and Interest
Ader is also a little sentimental when it comes to naming the would-be casino property, calling it “Mirai,” which translates as “future” in Japanese. Yet, Ader is hardly the only one looking to expand or establish their footing in New York. Las Vegas Sands Corp. and Bally’s Corp. have both undergone restructuring over the past year, and they seem interested in either building a new project or expanding existing offers.
MGM Resorts International and Genting Group may seek to expand their offering as well, by adding more casino products and facilities. However, there are also local factors to include. Ader’s preferred location of Manhattan is not necessarily the most pliable. In fact, legislators have objected to his idea to have a casino in the area, which could hinder the Mirai.
Ader has already found support from Universal Entertainment Corp., and a Japanese company focused on gambling operations, which has agreed to form a new business with Ader and seek to realize the Mirai.