Yeah, the first time I used the offer was in April, and I had used the code to reserve online; the front deskling never asked for the physical coupon. He did express disbelief at the low rate and summoned his manager, who flatly told me it must have been a mistake and the rate was really $17,000,000,005 per night, plus tax and resort fee. I then showed him my confirmation email and informed him gently that I would raise hell if he didn't honor it. He got all smiley then and told the deskling to check me in.
I figured that while I had retained the coupon, there was no way in hell I was going to be allowed to use the offer again. But I tried to do so in October, and the website accepted the offer code. I went there prepared to be told to fuck off, or at least again be given a lot of grief, but it went like clockwork. And on my next visit, I never even interacted with a human to check in...I just used the kiosk.
Another employee told me later that at least half of the guests currently staying there (the week before Horsie Time) were using the LVA offer. So that tells me that the Rio powers that be were quite happy with people reusing the offer.
That makes sense, as guests there on the cheap will still gamble and eat there, maybe see a show, etc. Like Vegas used to operate. Rio was very smart to become a relative bargain destination.