This week’s casino news starts off in New York City, which could open up one of the coolest casinos we’ve ever seen. Read on to find out the latest details from this cool venture.
Proposed Casino In New York City Going To Have Cryptocurrency Floor
Cryptocurrency continues to become wildly popular and now it might have a home base in New York City. There has been a pitch for a $3 billion dollar casino in the Big Apple and early indications are that it will have something that no other casino has ever done before. They are hoping to create a trading floor for cryptocurrency. The idea hasn’t been officially submitted yet, but reports say that it will be sent over by the deadline.
As it stands right now, the property has plans to be called the “Mirai”, which stands for “future” in Japanese. A cryptocurrency floor isn’t the only unique feature that they’ll have either. The Mirai could feature an esports arena and a venue for any potential live events. Also, it may not seem likely but the casino has plans to build a “landing pad for flying cars.”
It won’t be easy to get this property built, though. There are six major casino companies hoping to obtain a license. New York has made it clear that only three licenses will be awarded.
Junket Operations Closed By Macau Gambling Regulators
Gambling regulators in Macau decided that its junket operators should be closed down for the foreseeable future. This news comes shortly after a CEO of one of the largest junket operators in the area was arrested. Junket operators are pretty similar to casino hosts over in the United State and attract a lot of high-stakes gamblers and take care of them.
Junket operators rent private space in Macau casinos for huge amounts, then host private games for high rollers. For the past 15 years, junkets have been big business in the Macau casino industry — though many charged they were rife with corruption. Now, the Chinese government fears that the junket operations could see money slipping out of their economy and through other borders as a tool of money laundering.
It makes sense for them to worry about financial losses. After all, Macau is still struggling to get back to its pre-pandemic revenue numbers. That struggle will now get worse with junket operations shut down and fewer whales coming in. One report stated that nearly 30 percent of Macau casinos’ gambling revenue comes from junkets, which won’t be easy to just replace.
Multiple Atlantic City Casinos In Jeopardy of Getting Closed Down
Major changes could be coming for Atlantic City. It was just announced that four Atlantic City casinos are on the verge of closing down completely. These four casinos would take away about half of the brick-and-mortar market in New Jersey, which would be a massive loss to the state’s gambling revenue. Senate president Steve Sweeney, is making every possible move to try and keep these casinos up and running. That includes submitting a proposal for casinos to halt all property taxes.
New Jersey gambling revenue has already been recovering incredibly well since the start of the COVID-19 pandemic. However, outside of the top earning casinos, a few of the smaller properties have struggled. Tropicana, Caesars, Resorts, and Golden Nugget are all the four potential properties to close. Harrah’s could be in line to replace one of those four as well but nothing is set in stone yet.
If that submitted proposal is able to get through the Senate, it will also have to cruise through the assembly to get to the governor’s desk at the end of the line. That bill could wind up saving all of those properties.