Resorts World LV To Allow Crypto For Non-Gaming Activities

Updated On May 8, 2021 by Petar Markoski

Resorts World Las VegasResorts World Las Vegas will be open to the public from June 24 and patrons will be able to use cryptocurrencies at the $4.3 billion mega-casino resort which is located on the Vegas strip. Resorts World LV is making this possible through a partnership with popular crypto exchange Gemini which is owned by the Winklevoss twins.

Resorts World LV is looking to get as much publicity as possible in the lead up to its grand opening and the announcement that patrons can use cryptocurrencies is making headlines.

However, Brin Gibson chairman of the Nevada Gaming Control Board (NGCB) quickly clarified that Resorts World LV would be able to accept crypto at non-gaming venues only and not on the casino flow.

Gibson said that based on current Nevada legislation, cryptocurrencies cannot be used directly for gambling activities. However, if you like to use cryptocurrencies to gamble, don’t despair as there is a workaround.

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Gibson pointed out that there is another licensed casino in the state that follows a similar set up as Resorts World LV as it accepts crypto for non-gaming activities as well. However, since it has a crypto exchange on site, crypto users have the option for exchanging their crypto for cash directly at the site.

Downtown Las Vegas which is popularly known as D Las Vegas and the Golden Gate accept crypto payments for non-gaming activities. They use a bitcoin system that allows patrons to pay in bitcoin for hotel reservations, dining, gift shops and the front desk.

Resorts World LV Focused On Being Crypto Friendly

The cryptocurrency market has boomed during the last 12 months as bitcoin has experienced a massive spike and crossed $60,000 in May 2021. Ethereum also witnessed a massive spike in 2021 and ETH has now crossed the $3,000 mark. Most Vegas casinos will focus on offering BTC and ETH as its main crypto options.

Resorts World LV has claimed that it is focused on being one of the most crypto friendly resorts in Nevada. The casino resort is looking to implement multiple crypto friendly services at the best available institutional rates to for Gemini crypto users. They will be allowed to use their Gemini crypto account to book hotel services and other non-gaming entities.

Tyler Winklevoss, CEO of Gemini said it was great to see Resorts World LV lead the way and become the first casino resort to partner with a world class crypto exchange and allow the new generation of patrons to use crypto at the casino.

Petar is the finance guru, if you need a good investment this is the guy you go to! Working majority of his days in the finance sector as trader, he has gathered plenty of insight on binary options and the forex markets

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