The world of bitcoins and cryptocurrencies is expanding rapidly, Many companies are participating in the growing digital infrastructure. From record labels to musicians, several try to share in the new financial gains. Now the local restaurant, hospitality and entertainment company Landry’s throws its hat in the ring. Landry’s, run by Tillman J. Fertitta and known for restaurants like Saltgrass Steak House, The Oceanaire, Bubba Gump Shrimp Co. and Rainforest Cafe, will now offer a Bitcoin loyalty program.
Last week, Landry’s announced a new partnership with NYDIG, a leading bitcoin company, to operate a bitcoin loyalty rewards program for millions of customers in Landry’s Landry’s Select Club loyalty program. According to a press release, the partnership will allow members to earn Bitcoin points when they dine at any of the 500 locations nationwide.
The news follows another recent announcement when the hospitality group announced that they are now accepting payments in Bitcoin and Bitcoin Cash in select locations.
“Hospitality is at the core of what we do, and offering great new options is an integral part of hospitality. We see Bitcoin as a good choice for part of our own finances, so we want to offer that choice to our customers as well,” said Trey Zeluff, Director of Digital Asset Strategy at Landry’s. “We are proud to partner with NYDIG to pioneer this concept for the hospitality industry.”
The new company marks the first Bitcoin program in the hospitality industry and is powered by NYDIG’s secure, regulated, full-stack platform. The rewards program process is simplified for Landry’s Select Club members. Those currently in the program will get one point back for every US dollar spent, with 250 points equivalent to a reward of US $ 25. With Bitcoin in-game, customers can earn points that “track the value of Bitcoin and can be redeemed in $ 25 reward increments based on the market price of Bitcoin at the time of redemption.”
Also included in the partnership is a Bitcoin investment from Landry’s through NYDIG’s “Institutional Grade Custody Solution”. Landry’s will hold some of its treasury reserves in Bitcoin through NYDIG. While the partnership represents a new innovation for both parties, it serves as an extension of an existing relationship between NYDIG and Tilman J. Fertitta following the introduction of bitcoin-backed loans at his Houston-based luxury car dealership, Post Oak Motor Cars.
Patrick Sells, Chief Innovation Officer at NYDIG, expressed enthusiasm to work with the Fertitta family again to bring the concept to life. “Basically, this partnership represents a major milestone in making Bitcoin more accessible to everyone and enabling everyone to benefit from this asset class in more ways.”
Houston, a city home to award-winning chefs, can now add innovation to the list. The new program positions Houston as a leader in modernization with a new automation that enables residents to participate in the latest form of financial exchange.
A press release states that the new loyalty program will “soon” begin with no set release date.
Those interested in rewards can register for the program online at http://www.landrysselect.com.