Landry’s Hospitality Group, the parent company of Bubba Gump Shrimp Co, has announced that all its restaurants would start accepting Bitcoin (BTC) as a payment option in most of their locations.
Bitcoin acceptance to begin in 90 days
Chief executive officer of Landry Tilman Fertitta commented on the new payment method.
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He said the company intends to start accepting Bitcoin within the next 90 days in about 80 to 90 percent of their restaurants.
“We’ll have it, probably, within all of our restaurant brands in the next 90 days,” Fertitta stated, adding that customers don’t have to use Visa or Mastercard anymore when paying at the restaurants.
He also pointed out that one of the attractions for Landry to accept Bitcoin is how simple the transaction is. Fertitta added that the acceptance of Bitcoin by the restaurants was inevitable, looking at the popularity of the cryptocurrency among users.
Bringing Bitcoin to the mainstream
Fertitta also owns the NBA team, Houston Rockets, as well as a luxury car dealership in Houston. Both of them are currently accepting Bitcoin for payments.
With this announcement, it means most of Landry’s portfolio will be accepting Bitcoin. This includes Joes Crab Shack, Landry’s Seafood House, McCormick and Schmick’s, Chart House, Mortons, as well as Del Frisco’s. Fertitta also said the move was made towards bringing Bitcoin to the mainstream.
Bubba Gump Shrimp Company has over 30 restaurant locations in the U.S, Canada, Mexico, United Kingdom, Japan, Indonesia, China, Hong Kong, Qatar, and the Mariana Islands.
Germany’s Room 77 was the first bar and restaurant to ever accept Bitcoin as a payment method. However, restrictions due to the pandemic affected its business heavily, leading to the closure of the restaurant
While Bitcoin is gradually entering the mainstream sector, the volatility of the cryptocurrency makes it difficult to use as a dependable medium of exchange. Its price is very inconsistent, and many store owners may be skeptical about any proposed acceptance of Bitcoin or other cryptocurrencies.