Initial coin offerings (ICOs) are on fire and now also publicly listed companies are getting in on the new funding type action. Macau-based Dragon Corp plans a 500 million USD ICO for its floating casino. Germany’s Naga announced a decentralized blockchain trading platform. China’s NEO is being embraced at a time when the government isn’t exactly known for its love of ICOs. Investors are clamoring for ever-more ways to participate in the innovative markets bitcoin has spawned.
Half Billion Dollar Floating Casino ICO
Dragon Corp CEO Chakrit Ahmad explained his company wishes to raise 500 million USD through an ICO. It’s the kind of gamble one might expect when money raised will be used for a floating casino in the Las Vegas of Asia, Macau.
Macau’s under-one million residents enjoy a special administrative region within the fold of China’s governance. Across from Hong Kong, Macau’s gambling enterprises are thought to be at least “seven times the size of Las Vegas, but really it’s probably about 20 times,” Mr. Ahmad noted.
The Dragon Pearl Hotel Casino will accept the company’s coins in exchange for casino chips. Or, as is the case with most ICOs, owners can choose instead to hold coins as they gain or fall in value…