The D Hotel and Casino in Las Vegas is the first ever land based casino to have its own Bitcoin ATM manufactured by Robocoin. The 5-foot 7-inch machine is placed near the hotel gift shop and it allows customers to convert Bitcoin into cash and vice versa.
The Bitcoin ATM was powered up in May 22, 2014 and it is expected to shake things up in the casino gaming industry. The owner of the casino Derek Stevens is nervous and excited about it. “The machine is going to change the international gaming market and from a gaming perspective, it will add huge value,” said Stevens to Review-Journal.
CEO of Robocoin Jordan Kelley believes that the machine would attract rich people to store big cash in Bitcoin before travelling to the Sin City and they would convert it into cash and spend it at the casino.
The Bitcoin ATM has the capacity to hold up to $500,000 in cash. Before depositing and withdrawing money, customers have to set up a Robocoin account. They must enter their phone number and get SMS verification number. Then they must enter the number into the machine creating a PIN. Afterwards they must slide their ID card, scan their hand and the machine would take a picture of each customer. Once it is set up, customers can use it only with phone and PIN verification.
The machine has attracted many people from Europe and Asia, a thing Stevens didn’t expect. “The Bitcoin ATM has broadened our target base.”
Kelley said that they are expecting to release one more Bitcoin ATM in Las Vegas in June and at least five more by the end of the year. He calls the Bitcoin ATM at the D Casino “lucky No. 7.”