INSIGHT BLOCKCHAIN - BITCOIN - LAND-BASED
Land-based embraces blockchain
Casinos Austria International plans to become one of the first casino groups in the world to offer its players the option to play and cash-out at its land-based locations using cryptocurrency
G3 discusses the ramifications for the land- based sector with Casinos Austria International CEO, Christoph Zurucker- Burda, and the head of the newly established company championing this technology-led proposition, Thomas Staudacher, Managing Director of ALEAx.
Having conducted research on the potential adoption of new technologies and their application within gaming, the Casinos Austria International board of directors has given the green light to the creation of a blockchain 'bitcoin' initiative. In July, ALEAx was established and given its first challenge to find a solution that would bring improvements within the land-based gaming payments processing space.
Christoph Zurucker-Burda Chief Executive Officer, Casinos Austria International
Christoph Zurucker-Burda studied Business Administration at Vienna University of Economics and Business, where he specialized in Business Taxation, Investment Banking and Capital Market Communication. He also spent one semester abroad at the University of South Australia in Adelaide. After graduating, he joined the tax consultancy TPA Horwath in Vienna as a Tax Advisor, moved in 2007 to BDO Auxilia as an Auditor and Certified Tax Advisor and subsequently assumed the position of Senior Fund Manager with a large real estate property fund. He joined Casinos Austria International as Executive Vice President Finance in 2011, was appointed Chief Financial Officer in December 2013 and Chief Executive Officer in July 2018. Christoph Zurucker-Burda is a qualified auditor and certified tax advisor.
P68 NEWSWIRE / INTERACTIVE / MARKET DATA
Cryptocurrency isn't exactly a new invention, but in the land-based casino space it's not had much of an impact thus far. It's a scenario that's going to change in the near future, however, as a casino group with a clear relish for new technology is about to launch full steam into blockchain. Casinos Austria International intends to allow players to cash-in and out using a digital wallet to process bitcoin payments within its land-based locations in 2020.
"We foresee the need for a new payment method to offer greater flexibility for our customers," outlined Christoph Zurucker-Burda, Casinos Austria International CEO. "To meet the challenge of offering a land-based
cryptocurrency solution for our players, we have established ALEAx as a new venture in Liechtenstein, a country that has become a leader in this field, and where we currently operate a successful land-based casino."
Exhibiting on its own booth at ICE London 2020, ALEAx enables players to utilise cryptocurrency to purchase chips and cash out back to their digital wallet as part of a quick and easy transaction.
The company is currently undertaking all the necessary approvals from the appropriate authorities to speed this solution to market. Visitors to the ICE exhibition are invited to discuss the project with the ALEAx team in London.
THE DELAY TO PLAY
The issue Casinos Austria International and ALEAx seeks to eradicate is the delay caused by the transfer of cash across borders, which creates problems for both players and operations. Even the transfer of cash from one casino to another is becoming increasingly difficult and time consuming. The
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