Resorts Word Las Vegas, which will become the largest casino on the Las Vegas Strip when it opens next month, will become the first Strip casino to accept cryptocurrency as payment.
The Genting-owned casino has announced a partnership with Gemini, a cryptocurrency exchange and custodian owned by billionaire twin brothers Tyler and Cameron Winklevoss. The partnership will allow casino customers to use their Gemini crypto wallets to purchase items at the resort.
According to the press release , details of the partnership will be finalized in the coming weeks . Cryptocurrency will not be allowed to be used for gambling as gaming regulators have strict rules for this type of transaction and have yet to approve them.
This may change in the future as cryptocurrencies become more common.
David G. Schwartz, a gaming historian at the University of Nevada Las Vegas, told a local CBS partner that if this move is popular at Resorts World, it is very likely that other venues will implement it as well.
"I think by the time all centers do it, it will be a way to differentiate them," Schwartz said. "I think they see if people want to do it."
Resorts World Las Vegas will be the first casino on the Las Vegas Strip to accept these types of currencies, but D Las Vegas in downtown Las Vegas on Fremont St. has been accepting cryptocurrency as payment for several years.
“We are extremely excited to partner with Resorts World Las Vegas, the first casino on the Las Vegas Strip, to partner with the crypto platform and explore the integration of cryptocurrencies into their guest experiences,” he said. CEO Gemini Tyler Winklevoss in a statement. “Whether their customers have the option to use cryptocurrency at Resorts World Las Vegas or convert dollars to cryptocurrencies, being one of the first to support cryptocurrencies is a great way to meet the needs of the next generation of customers and provide a 21st century experience. "