Industry trend

Scarlet Pearl Casino brings cryptocurrency ATM machines to Mississippi

Cryptocurrency ATM machine and Scarlet Pearl Casino in D’Iberville, Mississippi.
Reading time 1:48 min
As confirmed by CEO LuAnn Pappas, the machines are the first in the area and of the same kind already in use in Las Vegas, which allow customers to convert their crypto coin into cash to use at the casino. With the state of Mississippi falling short on the use of technology in the gambling industry, and mobile sports betting still not authorized, this could be an important step forward in the upgrading of the market.

Scarlet Pearl Casino in D’Iberville, Mississippi, announced the installation of a cryptocurrency ATM machine, as confirmed by CEO LuAnn Pappas to members of the Gulf Coast Business Council at the October meeting in Gulfport. The machines, which are already in use in Las Vegas, allow customers to convert their crypto coin into cash to use at the casino. 

Mississippi does not regulate whether cryptocurrency ATM machines can be operated at a casino, according to Jay McDaniel, Executive Director of the state’s Gaming Commission, as reported by the Associated Press. However, the state does not allow yet to use cryptocurrency or a credit card directly in a slot machine.

McDaniel said going cashless in Mississippi is something the Gaming Commission would consider if the casino operators requested it, as COVID has pushed that discussion. The state currently falls behind other regulated markets within the U.S. when it comes to technology and payment options.

Resorts World Las Vegas opened this summer with a cashless casino floor and cashless payments for restaurants, shops and entertainment. Other casino operators are looking at upgrading technology to match the new trends in business within the casino industry. 

“While consumers have been accustomed to making mobile payments or using cards for nearly all other goods and services, land-based casino gaming has remained primarily dependent on cash transactions,” the American Gaming Association said in its State of the States 2020 report.

Mobile sports betting allows fans to place a bet from their computer or smartphone within states that allow it. In September, New Jersey became the first state to take in more than $1 billion in bets in a single month at the casino sports books and on computers and phones.

Mississippi was the fourth state to legalize and open sports betting, but has yet to allow mobile betting. While betting by phone inside a Mississippi casino is allowed, only one casino, Gold Strike in Tunica allows customers to bet with their app in the casino.

In September, the BetMGM mobile app became available for download in Mississippi. Using geolocation technology, customers at Gold Strike can place pre-game, live in-play, futures and parlay wagers from any mobile device.

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