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Yeet.com, a new crypto casino and sportsbook, today announced it has raised $7.75 million in a funding round led by crypto venture fund Dragonfly, with participation from notable angel investors like Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino. The company plans to lease the county-owned facility that has remained largely unused since the coronavirus pandemic. Their proposal would feature a towering glass building overlooking the amusement park in the heart of the waterfront community.
The upstart plans to rely on the reputation of its founders to create a home for gambling with crypto.
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Yet the race for all three downstate licenses is wide open — and nothing is a sure bet in the fierce competition full of big ideas and visions with billions of dollars at stake. Ten high rollers continue to vie for three lucrative full casino licenses in downstate New York in a years-long race that evolved from a sprint to a marathon. Santee Development Corporation estimates the development of the casino and resort to bring over 4 million annual visitors from in and out of state. No Sands Corp. representatives spoke during Thursday City Council meeting. Instead, an assistant city manager relayed the company’s earlier request to remove the gambling elements from the proposal.
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Metropolitan Park would be created on a 50-acre piece of parkland that has been used as a parking lot since the 1939 World’s Fair — as well as for events such as carnivals and a variety of other public uses. Steve Cohen, the billionaire owner of the New York Mets, has floated the possibility of building a casino as part of an entertainment complex on the 50-acre asphalt parking lot next to Citi Field. Related Companies, a New York City real estate giant, and Wynn Resorts are looking to build a casino from the ground up in an undeveloped area of Hudson Yards, located on the Far West Side of Manhattan.
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- It calls for a 1,200-room hotel, about 1,300 apartments, and an underground casino—all to go up just south of the United Nations headquarters.
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Rolling the dice: Who will win three coveted New York City-area full casino licenses?
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Some framed their opposition in religious terms and argued gambling would undermine the city’s family-friendly character. An official with University of Dallas, which would neighbor the resort, was among those to voice concerns about the plans. More than 170 people signed up to speak before the early Friday vote, with every speaker either criticizing Sands Corp.’s proposal or the city’s process. It is a good start, but having a license from a good regulator does not automatically guarantee that a casino will treat you well. At the same time, having a license from a bad regulator does not mean that the casino will be unfair and try to scam you. There are good and bad casinos on both sides of the licensing spectrum.
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The license would merely be an expansion with new restaurants and entertainment facilities, and not a project that has to be built from the ground up. The applicants must also meet all environmental and zoning requirements before the Gaming Facility Location Board reviews their plans. It is anticipated a final decision on the three licenses will come at the end of 2025. Like an exclusive, high-stakes game of Texas Hold’em, the process has been reserved for the uber-wealthy — with an applicant needing more than $1 billion just to be in the running.
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- The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe.
- The license would merely be an expansion with new restaurants and entertainment facilities, and not a project that has to be built from the ground up.
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The two “racinos” at Aqueduct and Yonkers Raceway appear to be favorites for winning two of the three downstate yesplay licenses. They have both been in operation for more than a decade and have made hundreds of millions on the VLT slot machine-like devices at each location, but introducing table games at both locations would make both ventures even more lucrative. Bids were submitted back in 2023 after state lawmakers approved the opening of three downstate casinos, each of which would feature full gaming tables for roulette, blackjack, poker, and other high-stakes action. The state is expected to finally award those three licenses at the end of 2025, and the highest-rolling entities are staking big bets that they will be one of the three lucky winners at the end of the vetting process. Ensuring that you play at an online casino site in the US that is regulated and meets the requirements set out by law is vital for player safety.
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- Earlier this month, the City Council gave its blessing to Cohen’s vision — which includes a 25-acre public park, shops and restaurants, a Taste of Queens food hall, the redevelopment of the Mets-Willets Point subway station, and improved roads and bike paths.
- A handful of speakers supported the zoning change, but those who did highlighted the potential economic benefits of the Sands Corp. proposal.
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In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents.
The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe. It calls for a 1,200-room hotel, about 1,300 apartments, and an underground casino—all to go up just south of the United Nations headquarters. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.
The Santee Development Corporation said not a dime of public money would be used. There are not any state or county incentives and it would all be privately funded. Boekenheide’s presentation before City Council members largely echoed what he showed planning and zoning commissioners Monday, but he took time at the end to respond to concerns raised and allegations made against the company. Irving council member Luis Canosa, who represents District 4, twice made a motion to include a ban on gaming in the zoning amendment but did not receive a second to trigger a vote of the entire council.
The ante to merely apply is $1 million, with successful bidders required to pay $500 million upfront for the license and at least $500 million as part of a development plan. Licenses will be good for a minimum of 10 years and a maximum of 30 years. The bidders include some of the state’s wealthiest interests, often in partnership with major gaming outlets across the country — stretching from Connecticut to Las Vegas.
Casino.org has been helping players win millions since 1995 – discover how we can help you with our expert casino reviews, guides and tools. Under Yeet’s Anjouan and Curacao licenses, U.S. residents will not be eligible to play on Yeet. The platform instead will focus on “Asia, Latin America, Canada, Africa, and select European markets where demand for crypto casinos is currently booming,” said Mando. If VGW refuses to comply – joining the 11 other recalcitrant recipients of similar cease-and-desist letters issued by the Maryland Lottery – then whatever slim hope VGW had of preventing SB 860 from passing will likely evaporate. After all, what kind of message would that be sending to Maryland lawmakers if VGW refuses to comply with a regulator’s request?
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