Major casino group Resorts World Las Vegas has teamed up with crypto exchange Gemini to “enhance the overall guest journey”.
Resorts World Las Vegas has affiliated operations in the Americas, Malaysia, Singapore, the United Kingdom and the Bahamas, and it is committed to being the most crypto friendly major casino group in operation. This may offer a decisive competitive advantage in the cut-throat international gaming market, which is struggling to rebound from lockdowns and impediments on global travel. Gemini also recently partnered with Mastercard to launch crypto rewards credit card.
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 meet the needs of the next generation of customers and provide a 21st century experience.
Tyler Winklevoss, CEO of Gemini
Gamblers, cryptos and banks
This type of adoption adds to the wide-scale applications of crypto currencies for everyday transactions. Gambling high rollers have long struggled with anti-money laundering (AML) legislation as their pastime requires the wiring of huge volumes of cash, often across international borders. For example, Bank of America received significant customer backlash when it froze the accounts of poker superstar Daniel Negreanu for apparent violations of its AML code for legitimate gambling related transactions.
Crypto-holding casino gamblers of all bankroll sizes will welcome the opportunity to deploy their funds with the least amount of intermediary transactions. Complicated cross-border money wire transfers may become a thing of the past as crypto wallets are not subject to the same onerous restrictions as bank accounts. Seamless crypto usage, in this case to pay for resort stays and gambling, may bring advantages to the entire business ecosystem.
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