Thanks to a collaboration between restaurant giant Landry’s and New York Digital Investment Group, millions of customers dining at 500 restaurants across the United States will soon be able to earn bitcoin points (NYDIG). Furthermore, Landry’s has stated that it will purchase bitcoin for its treasury. “We see bitcoin as a good choice for a portion of our own treasury, so we want to give our customers that option as well.”
Eating at 500 Restaurants and Earning Bitcoin Points
Landry’s announced a collaboration with New York Digital Investment Group (NYDIG) on Tuesday to “power a bitcoin loyalty rewards program for the millions of customers in Landry’s loyalty program — Landry’s Select Club.” Stone Ridge Asset Management’s bitcoin investment arm is known as NYDIG.
Details of the announcement:
Members of Landry’s Select Club will be able to earn bitcoin points when dining at any of the company’s 500 locations across the country as a result of this collaboration.
“The Landry’s Select Club program currently offers one point back for every dollar spent, with 250 points equated to a $25 reward,” the company explained.
The restaurant chain hopes to launch the new bitcoin program before Thanksgiving. The program will then be available to its 3.2 million loyalty program members.
“Customers who choose to participate in the new bitcoin loyalty program will 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 redemption,” the company explained. “All bitcoin loyalty points are only redeemable for Landry’s Select Club rewards and are not transferable outside of the Landry’s Select Club.”
Landry’s owns and operates over 500 high-end and casual dining establishments, including over 60 award-winning brands. Landry’s Seafood, Bubba Gump Shrimp Co., Rainforest Cafe, Mitchell’s Fish Market Restaurants, Morton’s Steakhouse, The Oceanaire, McCormick & Schmick’s Seafood, Chart House, Saltgrass Steak House, Claim Jumper, and Mastro’s restaurants are among the well-known Landry’s restaurants.
Landry’s said it will invest in bitcoin through NYDIG’s institutional-grade custody solution to support the program, adding:
Landry’s also announced its intention to hold a portion of its treasury reserves in bitcoin through NYDIG, in addition to managing the program.
“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 Landry’s digital asset strategy.