Bitcoin Boosts Business at Las Vegas Casinos

Bitcoin is gaining traction as a payment option for low-cost items at a popular Las Vegas casino.

AccessTimeIconMar 12, 2015 at 8:20 p.m. UTC
Updated Sep 11, 2021 at 11:36 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
The D
The D

A Las Vegas casino owner's decision to start accepting payment in bitcoin has paid off, with business at his venues improving following the move.

Derek Stevens, CEO of the D Las Vegas Casino Hotel and the Golden Gate Hotel & Casino started accepting bitcoin at the sites in January 2014. Of the two casinos, the D Las Vegas Casino Hotel, is processing the highest number of bitcoin transactions, Stevens revealed, though he declined to disclose exact figures.

Bitcoin is now accepted at the front desks of the Golden Gate and the D and as well as the gift shop and three restaurants at the D, giving the latter destination the edge in terms of the number of bitcoin-accepting locations.

Recalling the past year, Stevens told CoinDesk:

"We’re located in the growing tech sector of downtown Las Vegas, so it seemed like the right fit and we’ve definitely seen more business as a result."

The D also recently replaced its Robocoin bitcoin ATM with a Genmega G6000 bitcoin ATM, though Stevens declined to provide a reason for the decision.

Low-cost items see boost

While tight-lipped about the finer details, Stevens did reveal the casinos currently see the highest number of bitcoin purchases at American Coney Island, an on-site eatery that specializes in classic American fare.

Bitcoin is also accepted at the higher-cost dining options Joe Vicari’s Andiamo Italian Steakhouse and the D Grill.

Stevens believes it is American Coney Island's relatively low pricing that is making bitcoin purchases more common there than at the other restaurants.

Community-driven business

Another factor in the performance of the program has been the local bitcoin community, which Stevens said frequents the properties to support the payment method.

Other factors influencing the performance include the price of bitcoin, and whether any tech events are being held locally.

Image via Pete Rizzo for CoinDesk

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.