The first ground-up casino hotel to open on the Las Vegas Strip in a decade will also be the first to accept cryptocurrencies such as Bitcoin.
Genting Group’s Resorts World Las Vegas has announced a partnership with cryptocurrency exchange and custodian Gemini that will allow the property to deploy a Gemini crypto wallet “across all areas of the integrated resort experience” outside of the gaming floor.
The 3,500-room resort, set to open June 24, “is committed to integrating innovative technology conveniences to enhance the overall guest journey,” President Scott Sibella said. “By partnering with Gemini, a leader in cryptocurrency exchange, we are taking another step toward providing progressive guest experience solutions for today’s Las Vegas traveler.”
Gemini co-founder and CEO Tyler Winklevoss said his company is “incredibly excited” about the launch.
“Whether it’s the ability for their customers to use cryptocurrency at Resorts World Las Vegas or convert dollars into crypto, being one of the first to support crypto is a great way to provide a 21st century experience.”
Currently, two Downtown Las Vegas casinos𑁋The D and Golden Gate𑁋 accept the Bitcoin in areas such as dining, hotel reservations, gift shops and at the front desk, although, in line with Nevada gaming regulations, their casinos accept only U.S. currency.
Bitcoin can also be utilized at the Downtown Events Center.
“Nevada does not allow cryptocurrencies to be used directly in gaming,” Gaming Control Board Chairman Brin Gibson told the Las Vegas Review-Journal.
However, it is permissible to exchange it on-site for cash for gaming purposes, he said.
Cryptocurrency is a blanket term for a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology; a distributed ledger enforced by a disparate network of computers.
Gemini is a platform that allows customers to buy, sell, store and earn cryptocurrencies like Bitcoin, Ether and DeFi tokens.
