THE BARE FACTS
But before that can happen, Blomgren first needs to complete reconstruction of the strip club and open the Legends Room after multiple delays.
room for members. Both will have a lounge area, bar, and cryptocurrency ATM. The Legends Room is expected to open at the beginning of August. The club will definitely be ready for the fight between Floyd Mayweather Jr. and Conor McGregor in Las Vegas on August 26, Klamka and Blomgren said. The club hopes to create a marketplace for its LGD coins by allowing its members to rent out their tokens on a rotating basis. LGD
AN INITIAL CANCELED OFFERING
Earlier this year Blomgren bought the closed- down Striptease on Valley View Boulevard, near the Rio Hotel and Casino.
Members include Charlie Shrem – a bitcoin evangelist who served 18 months in prison for unlicensed money transmission – a rap star, a venture capitalist, and a wealthy 70-year-old.
The search for the right location caused Klamka to cancel the first initial public offering of the Legends Room’s LGD tokens... raising the suspicious of some bitcoin enthusiasts about the project’s legitimacy. “We were selling a membership and needed a facility to do that,” Klamka said in defense of the cancelation. Blomgren and Klamka said the investment in Striptease, including the upgrade, will be in the seven-digits. That would indicate that they raised at least 20% of their investment needs through the sale of the tokens. The 16,000-square-foot club will have one room for the general public and another VIP
trades freely, and its price is expected to rise on certain days when there is extra demand for access to the VIP room – like when popular adult entertainers, such as Tasha Reign, or UFC athletes make their regularly scheduled visits. Reign has agreed to come once a month to hang out in the VIP room, she said. Tasha Reign will be paid for her services, of course... in cash.
Todd Prince is the business and gaming reporter at the Las Vegas Review-Journal. He previously worked for Bloomberg News and Merrill Lynch in Russia.
54 | July 2017
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