![]() It was subsequently reported, however, that Barden had no need to sell Fitzgeralds to maintain a stake in the slots-only casino in Pittsburgh and that it would remain an asset which he could use to generate cash for his struggling gambling portfolio. ![]() In May 2008, it was reported that Barden was pledging the property to generate a $35-million equity stake in a slots-only casino in Pittsburgh, making a sale likely for Fitzgeralds Las Vegas. The move would free up space in Fitzgeralds that could be redeveloped. In February 2006, Barden announced that a nearby office building had been purchased for relocation of his company, Barden Nevada Gaming, which had been operating on the 12th floor of Fitzgeralds. The renovations were successful and resulted in increased customer visitation. īarden began a multimillion-dollar renovation of the property, including the buffet, steakhouse, and showroom. Barden separated Fitzgeralds Las Vegas from the Majestic Star umbrella two years later, to free it from restrictions imposed by the company's lenders. At that point, Barden became the first African American casino owner in Las Vegas. In December 2001, with Fitzgeralds Gaming in bankruptcy, The Majestic Star Casino, LLC, owned by Don Barden, bought the property, along with two other Fitzgeralds casinos in Colorado and Mississippi, for a total of $149 million. And perhaps this will push our regulators forward too.Former casino façade under the Fitzgeralds name.įinally, in 1987, the Sundance was sold to Lincoln Management Group (later Fitzgeralds Gaming) and renamed as Fitzgeralds Las Vegas. "People started asking me: 'Do you accept bitcoin?'" "Zappos is only a block away from us," he says. This is the oldest casino in Las Vegas, but according to Stevens, it is being pushed into the future by Tony Hsieh's Zappos and other free-thinking startups that have set up shop in the area. ![]() Though the Golden Gate is treading lightly into world of bitcoin, it's telling that the hotel is moving at all. But other operations - such as, say, bitcoin derivatives markets or bitcoin casinos - are venturing into uncharted territory. "The Senate hearings were almost comically positive.Įxchanges and payment processors like Coinbase, Ehram says, can satisfy government regulators merely by registering with federal and state officials as money transmitters. There has been a clear progression in the U.S.," says Fred Ehrsam, who co-founded a bitcoin payment processor called Coinbase. "Seven or eight months ago, I was really worried. This past fall, multiple financial regulators seemed to give bitcoin their stamp of approval during hearings on Capitol Hill. The good news is that things are moving in the right direction. Derek Stevens, the co-owner of the D and the Golden Gate, tells us that he and his company stopped short of accepting bitcoin on the casino floor due to uncertainty over how the government will treat the digital currency. This measured approach shows that while bitcoin is rapidly spreading its tentacles across the globe, there are many places where its growth is restricted by government regulation - or just the fear of government regulation. >'Once we have more from our government, we might be able to implement bitcoin for casino gaming, but I think we're still a ways away from that' The two Vegas hotels are not yet accepting the digital currency on the casino floor, only at their front desks and inside hotel restaurants and gift shops. It's one more milestone for bitcoin, which has also reached its first major online retailer and its first pro sports team. The Golden Gate and its sister casino, The D Las Vegas, are now accepting payments in the increasingly popular digital currency. ![]() And now, the Golden Gate Hotel and Casino is pushing Las Vegas into yet another brave new world: bitcoin. In 1959, it served the first Las Vegas shrimp cocktail. ![]() In 1906, it installed the first Las Vegas telephone. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |