Will Palms Comps Disappear When Controlling Interest Sold?

A thread on the paid side said that the Palms would sell controlling interest April 1st. Is that for real, and if so, any word on what will happen to stashed comps? I refuse to let Harrah's gobble my comps up, as they did when they took over Caesars. So if it's true, I better start planning a trip soon.

I HET takes over you better turn out the lights cause the party is OVER.

When HET bought Caesars my host advised me to "cash out" my comps and I went on a shopping spree at the Caesars gift shops buying cameras, clothing, cologne, perfume, bathrobes, etc with my stashed comps.

It makes no sense to hang on to comps. These days I take my extra comps and get Shell gas cards, and with premium now at $4.239 at my local station which I need for my car (reg is $4.049) I like having the gas cards arrive in mail a couple of weeks after each casino visit.

edited to add: but one thing new owners do NOT want to do is alienate their loyal customers. If they are smart they will honor the old comps, old player points, etc.

Remember when GM went bankrupt. Consumers who had the GM MasterCard did not lose any of their "points" towards a new car. They were protected by the bankruptcy plan. The "new GM" said losing those potential customers would be a mistake.

Do you think your host's new Bosses would have agreed with that at the time? Have your host ask and get back to me.

I think that HET was very happy that those of us cashed out our comps under the old owners. That meant that the old company took the "hit" of comps being cashed in, instead of HET having to absorb the obligation.

When I buy a company, I want to buy it with as few "strings" attached as possible. I want contracts resolved, business deals wrapped up. And when I sell a company, I know the buyers want to take on as many assets as possible with as few liabilities.

But thats the company to company perspective.

The question here is what a player should do with "stockpiled comps." I think its wise to cash in those comps rather than take on the risk that they will get lost in the transition. My guess is the comps would still be honored -- at least for a while -- but you never know, do you?

then a bigger question is, what are you saving the comps for?

I don't want your opinion I want to hear what your host's bosses thought about the advice. You posted that you were advised to do this by your host "once HET bought Caesars" not before.

I save them for a rainy day (moneywise). Or for when I have friends/partners in town.

Liondownnow: The host was actually giving the advice from his bosses. They (the hosts and managers) didnt want their clients (customers, players) disappointed when HET took over. It was a good business decision, much like telling your customers to stock up on XYZ because you have been told by your wholesalers that the prices are going up next week.

redietz: makes sense. budgeting the use of comps/points is a smart thing to do. You look at your points total, estimate what youll need in the future, factor in how many additional comps youll earn, and act accordingly.

If youre using comps to buy things (merchandise), you might even make a budgeting decision based on price changes. Will the iPods in the gift store go on sale when the new models are released by Apple, or is there a discount on the sweaters because its the end of the season? Or are casino jacket prices going up next month because cotton prices are higher on the commodity markets?

Like you, I keep certain "comps" in reserve for unexpected events -- taking someone to dinner. But if I feel I have an excess, I use them.