Officials Discuss Adding Crypto Trading at Proposed NYC Casino

New York State Seal And City Backdrop With Crypto Casino Background

Gambling proponents in New York continue working to open a major casino in New York City. Lately, various officials have discussed ideas to make this casino as popular as possible. One prominent money manager has just submitted plans to add a crypto trading floor to the proposed NYC casino.

Many are excited to hear about these possible plans. It is still unclear if the plans to open a NYC casino will be approved anytime soon, though.

Here’s what we know about the latest plans for this gambling venue.

Jason Ader Wants to Add a Crypto Trading Floor to the Proposed NYC Casino

New York has significantly expanded its gambling industry over the past decade. Today, both commercial and tribal casinos are operating in the state. Sports betting is also legal here and officials are currently working to get online sportsbooks up and running in 2022.

No casinos exist in New York City. One smaller gambling property is operating here, yet it only provides a limited number of gaming options. Many have been pushing for a real Class III casino to open in the city that would offer table games and slots machines.

Jason Ader, a well-known money manager in the state, is one of the individuals interested in seeing this casino opened. This week, he presented a set of plans for the proposed NYC casino. Part of those plans involved adding a crypto trading floor inside this venue.

“The goal is to have a differentiated but comprehensive approach to entertainment that goes beyond casino gaming with some pretty cool elements,” Ader told the media earlier this week. 

Ader’s plan also involved adding an Esports arena, a major convention area to host New York Fashion Week, and even a landing pad for flying cars. The total cost of this project would likely surpass $3 billion. We’ll be sure to report on any approvals of his plans over the next few months.

New York’s Sports Betting Expansion Plans Continue Moving Forward

New York has long been home to one of the most passionate groups of sports fans in the country. A huge number of professional teams are based here. That includes the New York Yankees, New York Giants, and New York Knicks.

It’s not a shock that New York legalized sports betting in 2019. Unfortunately, lawmakers here only approved plans for land-based sportsbooks to open in the state. These sportsbooks are all located in the Upstate arena making it very difficult for residents in New York City to legally place wagers. Many choose to make the trip into New Jersey to make wagers online.

New York’s lawmakers are now tired of seeing revenue flow into neighboring states. Plans to allow online sportsbooks in the state have been moving forward. Many key lawmakers support these plans and recognize how much tax revenue can be earned.

Several sports betting companies have already been chosen to receive online sportsbook licenses in the state. All signs point to these betting platforms going live in early 2022. Some feel these could help New York develop the most profitable sports betting industry in the country.

There is no doubt that New York’s betting platforms will take away from New Jersey’s sports betting revenue. Exactly how much of an impact they will have is unknown. Stay tuned for updates on this situation!

More States Report Surges in Sports Betting Revenue

The year is coming to a close and states around the country continue to see a huge amount of money flowing in from their regulated sports betting operations. States are beginning to release revenue reports over the month of November. It’s clear that this is one of the biggest months in history for the entire US sports gambling industry.

Oregon managed to bring in $4.4 million in total gross gaming revenue from sports betting in November. That is up a staggering 46.5% compared to October. Most of this revenue came from bets on the NFL season.

West Virginia saw an increase, too. The sportsbooks here reported nearly $200,000 in total sports betting handle over November. This state is not a major sports betting hub, yet helps to bring the state valuable tax revenue each month.

Most experts expect to see more states reporting record-breaking revenue reports over November. NFL betting continues to be a major revenue generator for sports betting companies. This will likely intensify heading into the playoff season.

Do you think the proposed NYC casino will open anytime soon? What do you think of Jason Ader’s plans? Let us know in the comments section below.

Using Crypto at Las Vegas Casinos Might Soon be Possible

Crypto

The casinos around Las Vegas are beginning to see a major surge in tourism. As a result, many of them have recently begun to expand their operations to cater to more visitors. New reports are now coming out that claim we could see crypto at Las Vegas casinos becoming available in the near future.

Cryptocurrencies have begun breaking into the mainstream recently. A growing number of people around the country have started investing and using crypto on a regular basis. Now is the perfect time to talk about why Las Vegas casinos are beginning to embrace these new forms of payments.

Let’s get into it!

Gambling Tourism is Ramping Up Heading into Summer

The US casino industry has come a long way since the mass casino shutdowns back in March of 2020. Nowadays, the country’s gaming industry is improving in almost every single way. Much of this is due to the major surges in tourism to gambling hubs.

Places like Las Vegas and Atlantic City are seeing a huge increase in their monthly visits. As a result, gaming revenue here has been growing steadily. Casino companies are reporting massive surges in their earnings every single month.

It seems likely that gambling tourism will continue to increase throughout the summer. June, July, and August are always the most popular times for visitors to head to gaming hubs. With the global health crisis now improving, it seems likely that places like Las Vegas will see record-levels of tourism.

The opening of Resorts World Las Vegas is also expected to bring in more visitors to the city. This venue has been under construction in the northern area of the Las Vegas Strip for years. It cost $4.2 billion to construct, making it the most expensive gambling property ever built in the city.

Some big changes are coming to Las Vegas. Recently, a growing number of individuals and businesses have called for the casinos in this city to begin allowing cryptocurrency payments. It now seems that some of the casino owners are listening to these requests.

Crypto payments have grown considerably more popular over the past year. Here’s what we know about these currencies making their way to Las Vegas.

Expect to See Crypto at Las Vegas Casinos in the Near Future

Cryptocurrencies have been around for more than a decade. Back in 2017, the prices of many major cryptos surged to record-highs before dramatically falling. This led many to criticize the entire crypto market as being too volatile.

Over the past year, this market has been growing at a steady pace. It’s a bull market and one that has seen most coins surpass their all-time highs. Interestingly, several major corporations have also begun to embrace cryptocurrencies.

Retail crypto investment is beginning to increase, too. Thanks to simple trading platforms like Coinbase and Robinhood, many individuals around the US are starting to dabble into the cryptocurrency game. As time goes on, more businesses are looking into how cryptocurrencies can benefit them moving forward.

It now seems that gambling fans will soon begin seeing crypto at Las Vegas casinos. The aforementioned Resorts World Las Vegas has just announced that it reached an agreement with the crypto exchange Gemini. The casino-resort plans to allow its patrons to use their Gemini wallets “to enhance the integrated resort experience.”

This is a huge move for both the crypto industry and for Resorts World Las Vegas. It seems that players here will be able to easily transfer their casino winnings into cryptocurrencies. More information on this subject will likely become available over the next few months.

The opening of Resorts World Las Vegas is now just over one month away. Here’s what this means for gambling fans around the country!

Resorts World Las Vegas Opens Next Month!

As just about everyone knows, Las Vegas is home to many of the biggest and best casinos in the world. The Las Vegas Strip, in particular, hosts some truly remarkable casino-resorts. On June 24, arguably the most impressive gaming property ever built here will officially open its doors.

This is Resorts World Las Vegas, opening in the northern area of the Strip. This venue has been under construction for many years and has gone through several design changes. Most expect it to be a true one-of-a-kind gambling property.

We’re beginning to hear more about this casino. Reports have surfaced recently that Katy Perry will be performing a residency here. Other stars such as Carrie Underwood and Tiesto are expected to be regular performers here.

Things are getting more exciting as opening day approaches. The Nevada Gaming Control Board has just recommended licensing for the owners of this resort. It’s one of the final hurdles in the way of getting it operational.

This Chinese-themed casino-resort should help to significantly boost tourism in the city. Many individuals around the country are curious to see what $4.2 billion comes up with. We’ll continue offering updates on this venue as its opening day draws closer.

Using crypto at Las Vegas casinos is slowly becoming normal. Are you excited to hear this development? Let us know in the comments section below!