Land-based sector looks to join the crypto revolution

Even by the standards of initial coin offerings (ICOs), Macau gaming company Dragon Corp. raised eyebrows in September with an announcement that it planned to raise $500 million to build a floating casino that operates in a newly-created cryptocurrency. ICOs, the controversial form of crowdfunding where users usually exchange bitcoin or ether for a newly-issued cryptocurrency, have not received the best press of late. They were branded “illegal fundraising” and banned by the Chinese government at the start of September. Regardless, they remain hugely popular among investors. During 2017 until the end of October, 211 ICOs have raised a total of $3.5 billion, according to ICO information provider Coinschedule. The gaming sector has been the focus of a number of ICOs already, and while most of these have centred on igaming, several projects are looking to disrupt the land-based sector with blockchain technology. Dragon Corp’s ambitious plan takes aim at junkets, with a...

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