Bitcoins Increase Casinos’ Business

In January 2014, the Golden Gate Hotel and Casino and the D Las Vegas Casino, started accepting bitcoins as payment for non-gaming transactions. Since then, the casinos, owned by Derek Stevens, have witnessed a considerable rise in their business and started receiving more patrons from Europe and Asia too. According to Stevens, who did not reveal any numbers, the D has seen more bitcoin transactions compared to the Golden Gate.

New bitcoin ATM

BitcoinsLast year, the D became the first casino to set up a bitcoin ATM to help ease transactions. The ATM, from Robocoin, which could hold more than half a million dollars in cash, has now been replaced by Genmega G6000 machine, though Stevens was not very forthcoming on the causes for the change. Robocoin opened its first bitcoin ATM in a coffee shop in Canada and saw transactions worth a million dollars in its first month.

Currently, bitcoin is accepted in three of the D’s restaurants as well as the front desks of both casinos. Of the three restaurants that accept bitcoins at the D, American Coney Island, which serves classic American cuisine, receives the most number of bitcoin transactions. Stevens commented that a possible reason could be that the restaurant offered lower prices when compared with the other two: the D Grill and Andiamo Italian Steakhouse.

Factors affecting Bitcoin transactions

The value of the virtual currency is notoriously volatile and its price at any given time determines if customers are willing to use it. Stevens also said that the local bitcoin community frequently visits the casinos in support of this method of payment. A technology conference happening in the region also plays an important role in affecting possibly affects the number of transactions taking place for this virtual currency.


A Brief Silver Lining

stock-exchange-screenIt is no secret that the economic climate can have a major impact on the revenues for gaming in virtually every area of the world. Generally, the more additional money people have at their disposal, the greater the revenues for casinos and online gaming organizations. Considering these trends, many analysts are speculating as to whether or not the recent decline in gas prices will translate into better numbers for the gaming industry. It is not just gas lower gas prices that are increasing the potential for wagering as well. Consumer confidence all over the world has been growing as once turbulent markets begin to stabilize.

Losers Becoming Winners

Many regional markets that are being watched in regard to this concern have already started to provide positive data points. In many areas, the gaming industries that have been showing steady declines are already back up by five percent or more. This data is being compared to figures that indicate that average gas prices have already fallen by an estimated two dollars per gallon. Casino owners have also taken note of the recent changes. They cite an increase in consumer spending and greater regularity and enthusiasm in occasional, low-end players.

The Forces Driving the Action

According to many economic analysts such as those employed by the Morgan Stanley research teams, 2015 has the potential to be a consumer-driven year that will be the strongest on record since 2006. Among the variables in favor of strong economic conditions are increased liquidity, a rise in the market value of homes, and increases in most industry wages. While casinos and other forms of wagering can count on the trend for some additional profits over the next year, analysts warn that upswings such as this do not indicate endless, additional resources. Instead, it is much more likely that the growth will be short-lived, indicating a broader upturn in economic prosperity that will take place over decades.


Krupa Hits $4K Slot Jackpot

Lady Luck was certainly on her side as Polish-born Joanna Krupa hit a $4,000 jackpot on a slot machine at the Seminole Hard Rock Hotel & Casino in Tampa, Florida.

Joanna Krupa

Joanna KrupaJoanna Krupa is a 35-year-old former model and current actress. She has been a lingerie model for Frederick’s of Hollywood, appeared twice on the cover of Playboy and participated on Dancing with the Stars with partner Derek Hough, who had been a champion on the show previously. In 2012, she was added as a cast member to the reality television show The Real Housewives of Miami.

Celebrity Gambler

Krupa is a casual gambler by any metric, but she has garnered attention for her enjoyment of the pastime simply due to the sheer amount of attention she receives regardless of what she does. The model-actress is very active in social media, and she often engages with her audience by chronicling her various adventures, and on numerous occasions, those activities have involved gambling.

Hard Rock

This was the case with her visit to Hard Rock. Fans followed along on Facebook and Twitter and even cheered her on as she sat down at the blackjack tables, but didn’t have any luck. Most such jaunts ended that way. She would win a little here, win a little there, but at the end of the night walk away losing more than she had earned.

Hitting the Jackpot

This night was different. After a series of losing hands against a live blackjack dealer, she moved over to the electronic machines and bounced around between several different slot machines and video poker machines. After a series of unlucky spins, she hits a $4,000 single-line jackpot and came out on top for a change. It is unclear from the photos she posted, however, which machine yielded the payday.