Image: Landry's
Landry's announced a partnership with NYDIG, a leading Bitcoin company, to power a Bitcoin loyalty rewards program for the millions of customers in Landry's loyalty program—Landry's Select Club. This partnership will allow Landry's Select Club members to earn Bitcoin points when dining at any of its 500 locations nationwide, with the potential benefit of realizing better buying power for the customers' points based on bitcoin appreciation over time. The offering will be powered by NYDIG's secure, regulated, full-stack platform, according to PRNewswire.
The Landry's Select Club program currently offers one point back for every $1 spent, with 250 points translating to a $25 reward. Customers that opt into the new Bitcoin loyalty program 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 they redeem. All Bitcoin loyalty points may only be redeemed for Landry's Select Club rewards and will not be transferrable outside of the Landry's Select Club.
To support the program, Landry's will invest in Bitcoin through NYDIG's institutional-grade custody solution. Beyond managing the program, Landry's also announced its intention to hold a portion of its treasury reserves in Bitcoin through NYDIG.
"Hospitality is the core of what we do, and offering great new options is an essential component of hospitality. We view bitcoin as a good choice for a portion of our own treasury, so we want to offer that choice to our customers as well," said Trey Zeluff, Director of Digital Asset Strategy at Landry's. "We're proud to pioneer this concept for the hospitality industry in partnership with NYDIG."
"We are thrilled to partner again with the Fertitta family to bring our bold vision to life," said Patrick Sells, Chief Innovation Officer at NYDIG. "Fundamentally, this partnership represents a huge milestone towards making Bitcoin more accessible to all and allows for everyone to benefit from this asset class in more ways."
The partnership extends an existing relationship between NYDIG and Tilman J. Fertitta, following the launch of Bitcoin-backed loans at his Houston-based luxury automobile dealership, Post Oak Motor Cars.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
