Landry’s announces partnership to offer Bitcoin loyalty program
The world of bitcoin and cryptocurrency is booming, with many companies taking part in the growing digital infrastructure. From record companies to musicians, many are trying to take advantage of the new financial gains. Now local restaurant, hotel and entertainment company Landry’s is throwing 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 fuel a bitcoin loyalty rewards program for millions of customers of Landry’s loyalty program, Landry’s Select Club. According to a Release, the partnership will allow members to earn bitcoin points when they dine at one of its 500 locations nationwide.
The news follows another recent announcement as the hotel group said it now accepts payments made in Bitcoin and Bitcoin Cash in some places.
“Hospitality is at the heart of what we do, and offering exciting new options is an essential part of hospitality. We see bitcoin as a good choice for a portion of our own cash flow, so we want to offer that choice. to our clients as well, ”said Trey Zeluff, director of digital asset strategy at Landry’s. “We are proud to be the pioneers of this concept for the hospitality industry in partnership with NYDIG.”
The new venture marks the first bitcoin program in the hospitality industry and will be powered by NYDIG’s secure, regulated and comprehensive platform. The rewards program process is simplified for members of the Landry Select Club. Those currently in the program receive one point back for every $ 1 spent, with 250 points translating into a $ 25 reward. With bitcoin in play, customers can receive 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 the exchange.”
The partnership also includes an investment in Landry’s bitcoin through NYDIG’s “Institutional Grade Custody Solution”. Landry’s will hold part of its bitcoin cash reserves through NYDIG. While the partnership marks a new innovation for both parties, it is an extension of an existing relationship between NYDIG and Tilman J. Fertitta, following the launch of bitcoin-backed loans at its luxury car dealership based in Houston, Post Oak Motor Cars.
Patrick Sells, Director of Innovation at NYDIG, expressed his enthusiasm for partnering again with the Fertitta family to bring the concept to fruition. “Basically, this partnership represents an important step in making Bitcoin more accessible to everyone and allows everyone to benefit from this asset class in more ways. “
Houston, home to award-winning chefs, will now be able to add innovation to the list. The new program positions Houston as a leader in modernization, with new automation that allows its residents to participate in the latest form of financial exchange.
A press release notes that the new loyalty program will start “soon”, with no release date set.
Those interested in earning rewards can register for the program online, at http://www.landrysselect.com.