Bitcoin Leads to Increase in Revenue at Two Las Vegas Casinos

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Introduction of bitcoin to Las Vegas proves successfullBitcoin has improved the financial performance of two major casinos in Las Vegas, which had begun accepting payments in bitcoin over 18 months back.

Consumers Prefer Bitcoin

Ever since the Golden Gate Hotel & Casino and the D Las Vegas Casino Hotel began accepting payments in bitcoins in January 2014, their financial indicators have experienced a major boost. In addition, the two casinos became more popular and began attracting more patrons.

The credit of introducing bitcoin in the two Las Vegas casinos goes to Derek Stevens, the chief executive officer of the two casinos. Quite understandably, Stevens refuses to reveal data related to the project’s actual performance, but is willing to share details related to the competitiveness between the two casinos.

While the D accepts bitcoin payments in five different locations, including its front desk, gift shop, and three restaurants, the Golden Gate accepts bitcoin payments only at the reception desk. The former, therefore, processes the larger number of transactions in bitcoins.

According to Stevens, the two casinos are popular chiefly because they are located in downtown Las Vegas’ “tech sector.” He said that introducing bitcoin as a payment option “seemed like the right fit” as the two casinos have “definitely seen more business as a result.”

Interestingly, the D Las Vegas discontinued the use of a Robocoin Bitcoin ATM and installed a Genmega G6000 ATM in its place. It has still not disclosed its reasons for making such a change.

Bitcoin Payments Breaks Records

The two Las Vegas casinos also take credit for receiving a record number of payments in bitcoins at American Coney Island, a local joint that offers traditional American food to tourists. In addition, the famous Andiamo Italian Steakhouse, which belongs to Joe Vicari, and the D Grill, are happy to receive payments in bitcoins.

Listing the factors responsible for the rising popularity of bitcoin payments at these joints, Stevens says that prices are relatively low at American Coney Island. In addition, the current value of bitcoins, the positive efforts of bitcoin supporters in the locality, as well as the fact that the city hosts a wide range of technology events could also have played a role.

Bitcoin ATMs on the Rise

Meanwhile, bitcoin ATMs are on the rise. Mike Tyson, an ex heavyweight champion has signed a partnership deal with Conexus Cattle Corp subsidiary Bitcoin Direct LLC with the intention of launching Bitcoin ATMs bearing his name.

Consumers can use their smartphones and tablets to purchase bitcoins through a Mike Tyson Bitcoin ATM. Bitcoin Direct hopes that the photograph of Tyson on these machines will popularize bitcoin among followers of pop culture. Mike Tyson Bitcoin ATMs offer privacy as well as convenience to consumers.

Peter Klamka, the CEO of Bitcoin Direct, said: “Mike is a universally known boxer and celebrity whose fan base extends across a broad demographic. People around the world of all ages recognize him, so the Mike Tyson Bitcoin ATM should help introduce bitcoin to the consumer and broaden its availability and appeal to the general public.”

November 3, 2015: • No Comments

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