The Nevada Gaming Commission approved a casino license for Genting Berhad on Thursday. Genting plans to break ground on a $4 billion resort development to be called Resorts World Las Vegas.
The Genting casino will be situated on the north end of the Las Vegas Strip. The development is going to incorporate 80% to 85% of the buildings used in the failed Echelon project. The Echelon development stalled due to the 2008 global recession, and Genting Berhad eventually purchased the buildings.
When completed, the casino is going to hold 3,000 hotel rooms and the largest gaming floor in Las Vegas. A 4,000-seat theater is also going to be on the complex, which will be made to look like an idyllic Chinese village. Genting officials say they are considering whether to add a theme park or not. They expect the $4 billion development to bring sightseers.
SLS Resort to Open on Labor Day
Resorts World Las Vegas will take a while before it opens, but there is an opening in Las Vegas later this year. SLS Las Vegas Hotel & Casino is a luxury boutique hotel-casino under construction at the moment. The resort was formerly known as Sahara Hotel and Casino, and (along with the Riviera) was one of the last vintage Rat Pack era hotels remaining in Las Vegas. The casino was the set for the original 1960 version of Ocean's 11.
SLS Las Vegas is currently undergoing a $415 million renovation. When complete, the casino will reopen on Labor Day 2014. SLS Las Vegas is located on the Las Vegas Strip, though it is located in Winchester, Nevada. The groundbreaking on the renovations began in February 2013, under the guidance of Sam Nazarian.
When completed, SLS Resort will contain 1,600 hotel rooms and four nightclubs. The casino will have several restaurants, including The Bazaar by Jose Andres, Umami Burger, and Katsuya by Starck. The complex will have L.A. clothing store, Fred Segal
The D Las Vegas Launches First Bitcoin ATM Machine
While newly christened casinos are opening in one part of Las Vegas, a more established business is bringing innovative technology to the casino floor. The D Las Vegas in the downtown portion of Sin City is set to launch the first-ever casino-based Bitcoin ATM machine. The new machine is going to sit next to a gift shop in the hotel. The machine will be 5'7" and will be called Robocoin.
Derek Stevens, owner of the D Las Vegas, says he is uncertain how the new machine will be received. Gamblers and casino owners alike are anticipating the reaction from the mass markets players and casual fans. When asked to comment on the story, Derek Stevens says he some time ago told Robocoin's marketer, Jordan Kelly, "I'm anxious. I'm excited about it. But it's not something we can project that easy."
About Robocoin
Robocoin is going to be a hybrid machine, holding both cash and Bitcoin virtual currency. Robocoin will be able to hold up to $500,000 in cash. Of course, Bitcoin has only an electronic existence.
The Vegas launch is nothing new to Robocoin. In October 2013, company launched the first Bitcoin ATM in a Canadian coffee shop. In the first 8 days of operation, that machine conducted $100,000 worth of transactions and $1 million in the first month's time.
Since October, the demand for Robocoin has exploded. Jordan Kelley's company has sold 55 machines around the globe, to Singapore, Japan, and Australia. The United States is home to 6 Robocoin ATM machines, while the one at the D Las Vegas Casino is "Lucky No. 7".
What Is Bitcoin?
Bitcoin is a currency which exists entirely in the virtual world of the Internet. No government or bank backs up the currency, but it is traded by millions of online consumers and merchants each year. Neither cash bills or metal coins for Bitcoin, but one bitcoin is worth roughly 900 American dollars. The currency started at the end of 2008, when banks and wealthy investors were hoarding traditional money.
Online traders began to use Bitcoin. Many found they liked the anonymity of such payments. Virtually every form of web commerce allows bitcoin payments. Online gambling and bitcoin poker sites certainly does. In fact, it is thought online gambling accounts for about 50% of all bitcoin transactions. It is no surprise that land-based casinos eventually would accommodate such payments.
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