Crypto currency

Crypto on the casino floor? Las Vegas resort partners with Gemini


A Las Vegas casino-resort which aims to open for business next month has just partnered with major cryptocurrency exchange Gemini.

In an announcement today, Resorts World Las Vegas said it would be allowing customers to use their Gemini wallets “to enhance the integrated resort experience.” President Scott Sibella said the move was part of an effort to integrate “innovative technology conveniences” across the resort.

Gemini co-founder and CEO Tyler Winklevoss hinted that patrons would be able to convert fiat into crypto at the resort, meaning that some may have the ability to win at a casino game, then invest those funds into digital currency. Major slot machine manufacturer International Game Technology received a patent earlier this year for a system that would enable gamblers to transfer crypto from their accounts into a “gaming establishment account.”

Online activity on gambling websites significantly surged during the pandemic as many casinos were forced to reduce capacity or shut down entirely — only this week have some Las Vegas resorts been allowed to return to 100% capacity after a significant number of employees had received the COVID-19 vaccine. Cointelegraph reported in November that the Winning Poker Network had seen an increase in demand from players to be paid in Bitcoin (BTC) prior to the crypto asset surpassing $20,000.

The Chinese-themed casino-hotel — built at a cost of more than $4 billion — is expected to open to the public on June 24.