Two Nevada Casinos Begin Accepting Bitcoin

Two Downtown Las Vegas casino have begun accepting the virtual currency Bitcoin and have become the first to open their doors to this somewhat controversial currency, and while some say it’s a novelty other believe it’s will be good for business....eventually. The city’s oldest casino, the Golden Gate and The D Casino are the two casinos in question and visitors are now able to pay for rooms and drinks with the cryptocurrency, as well as make purchases in the gift stores. Derek Stevens is co-owner of both casinos and he states that, "For us, it's going to be somewhat exciting to see what kind of impact it'll have."

While some love it, others loathe it and while China has banned its central bank from transacting in it, it’s still a potent issue in the US due to the fact that there is no governing body or regulatory procedure behind the currency. It’s highly unlikely that casinos in Nevada will be accepting Bitcoin for wagering purposes anytime soon and A.G Burnett of the Nevada Gaming Control Board says that, "It’s absolutely not approved for gaming transactions and no licensee has approached me for considering its use, it’s one of those things that we’ve been studying for some time now and we wanted to stay aware of." In no uncertain terms he continued with, "We would have to have an extremely high level of comfort with virtual currency of this kind in order for that to ever occur." Many mainstream companies are now accepting Bitcoins as payment although their use remains a very small percentage of overall turnover.