Robocoin, first Bitcoin ATM in a casino, launches at The D

robocoin22 May 2014 / Review Journal – A tall blue box tucked in the rear of The D casino in downtown Las Vegas could soon shake up the gambling industry.

That’s the hope of Derek Stevens and Jordan Kelley, who met Wednesday on the casino floor as they prepared to launch the first Bitcoin ATM ever placed in a casino.

Standing against a wall next to the hotel gift shop, which accepts the virtual currency, the 5-foot, 7-inch Robocoin machine is scheduled to be powered up today, allowing customers to transform Bitcoin into cash and cash into Bitcoin.

“I’m anxious. I’m excited about it,” Stevens, the casino’s owner told Kelley, CEO of Las Vegas-based Robocoin. “But it’s not something you can project that easy.”

Robocoin can hold upwards of $500,000 in cash. Kelley likes to think of rich foreign businessmen storing loads of cash in Bitcoin before traveling to Las Vegas and emptying their online wallets in the form of dollars at the casino.

“This is going to change the international gaming market considerably,” he said. “It’s going to add enormous value from a gaming perspective.”

Robocoin made international headlines by launching the world’s first Bitcoin ATM in a Canadian coffee shop in October. The machine conducted $100,000 worth of transactions in the first 8 days and $1 million in the first 29 days, Kelley said.

The company took off. Robocoin started selling its ATMs around the globe, having shipped 55 — 20 of them now in operation — to places such as Singapore, Japan and Australia. Six are in the in the United States.

Kelly called the machine at The D “lucky No. 7.”….. Read more

Follow Twitter

Exchange Rate