Casinos, Las Vegas & Bitcoin ATMs
Bitcoinist.net had the pleasuring of interviewing the owners of both Golden Gate Casino and the D about their decision to move into the crypto currency sphere.
Why did the D decide to install a Bitcoin ATM?
“We started accepting bitcoin at our hotel, gift shop and restaurants in January. The Robocoin was the next step to be able to allow our customers to buy and sell bitcoin at the property. We wanted to be the first Las Vegas property to have a bitcoin ATM. We needed to have approval from the Nevada Gaming Commission before we could install the bitcoin ATM. Once we received that approval we moved quickly to put the machine on the floor.”
“Yes, we have customers come to our casino specifically to use the Robocoin. When these customers come to the property they are likely to gamble, eat or buy something from our gift shop. We saw a direct correlation between the Robocoin and bitcoin transactions at Andiamo Steak House and American Coney Island as well as our gift shop.”
Why do you think most casinos have yet to adopt a Bitcoin ATM?
“I think this is because bitcoin is a relatively new form of currency and it is not approved by the Nevada Gaming Commission to be accepted on a gaming floor. We started by taking bitcoin in our non-gaming operations. Golden Gate Casino and the D were the first casinos in the world to accept bitcoin. We partnered with BitPay to process our transactions which has made it very easy to take bitcoin. Our processor converts the bitcoin to US Dollars and deposits in our bank account. The casinos are guaranteed to be paid the amount of US dollars at the time of sale, so there is no risk to us as it relates to the volatility of bitcoin exchange rates.”
Do many of your guests request to pay in bitcoin?
“Yes, we have several transactions each day at our gift shop, American Coney Island, the D grill and Andiamo Steak House. We also accept bitcoin for hotel rooms and group events in our convention space.”
Do you currently accept bitcoin or do you plan on accepting bitcoin in the future for gambling?
“We would be interested in accepting bitcoin for gaming if the Nevada Gaming Commission was to approve this. We’ve had discussions with the Chairman of the Gaming Commission regarding bitcoin and they seem open to the idea in the future.”
Do you currently accept bitcoin for rooms?
“We currently accept bitcoin at both the Golden Gate Casino and the D for hotel rooms.”