President Maduro Orders the Opening of Petro-backed International Crypto Casino
In what appears to be another attempt to promote the use of its state-backed cryptocurrency, Petro, the President of Venezuela, Nicolas Maduro, has announced the opening of an international casino at a luxury hotel in Caracas. Although the casino will be open to receive fiat currencies and other cryptocurrencies, all bets must be placed in Petro (PTR).
You can come to bet. There will be offers, special prices. You buy your Petro tokens, you can buy them if you bring Yuan, if you bring Yen, Dollars, Euros or any other cryptocurrencies… Buy your Petros and make your licit bets allowed by the state as contemplated by national laws.
The news is coming as a surprise considering Venezuela’s previous strict stance on betting. Almost a decade ago, former President Hugo Chavez ordered the closure of all betting spots on the argument that they were sweet spots for crime, drugs, and prostitution.
While making the announcement, Maduro stated that the proceeds of the venture will fund the country’s health and education sectors. Howbeit, there are still several unanswered questions regarding how the casino will run, in what currency will players cash out and whether this will pave way for similar ventures.