I just received brand new information about changes in slot clubs at two major casino companies, MGM and Caesars.
From an official press release I received by e-mail: ” MGM Resorts International and Ameristar Casinos, Inc. today announced a strategic marketing relationship for the companies’ rewards programs – MGM Resorts’ M life and Ameristar’s Star Awards/Plateau Players Club. Beginning in mid-March, the strategic agreement allows targeted MGM Resorts’ M life members to receive offers and benefits at Ameristar casinos and Ameristar’s Star Awards/Plateau Players Club members to receive offers and benefits at MGM Resorts’ properties in Las Vegas.
“Member Benefits
- Star Awards/Plateau Players Club members will receive personalized ongoing offers, which may include complimentary or discounted hotel rooms and casino FREEPLAY® at MGM Resorts’ properties, and will receive Star Awards/Plateau Players Club tier credits for their M life play while in Las Vegas.
- Targeted M life members will receive a special introductory offer to Ameristar Casinos, which may include complimentary or discounted hotel rooms, Bonus Play, dining and other offers.
- M life Pearl members and above and Star Awards/Plateau Players Club Premier members and above will receive upgraded Tier status and associated benefits.
“For guests seeking more information, visit mlife.com or ameristar.com.”
The same day I received by snail mail from Caesars (formerly called Harrah’s) a jazzy new Total Rewards magazine. This was the most exhausting piece of mail I’ve ever received from a casino in the almost 30 years I’ve been connected to casino gambling. Every page – 38 of them – was breathless in describing the new, the improved, the largest, the best. They are “thrilled” to tell me about their new logo that “captures the energy and excitement” of the “new” Total Rewards. I guess I am getting old but being bombarded with such exhilaration doesn’t revve me up – it makes me want to lie down and rest. However, it probably isn’t my age that is the problem. I know it is my long-time experience. I have almost never seen a change that a casino is excited about that turns out to be just as exciting for us customers.
The magazine doesn’t really spell out the details of the “new and improved” Total Rewards program They mention presale show tickets for cardholders and dining discounts. They wax eloquent for two pages about a new promotion online but on first reading I couldn’t understand the complicated instructions. I will need to take time to see if that is something I want to bother with.
The most interesting tidbit I found was this: “Beginning in April, you will be able to redeem your Reward Credits for Free Play at any Total Rewards casino – any day, every day.” Now that might be of great benefit to me since Brad and I have thousands of dollars more in credits than we would ever want to redeem for comps. However, I will definitely need to find out the details. What is the redemption rate? Will it be available for old credits – or new credits only?
The devil is always in the details! Only time will tell!
Oh Kevin, I LOVE YOU! and I don’t even know you. I’m glad you were able to wade through the ‘trash’ and pick up on this little known fact. No one does anything for our good, they only to it to pad their own little cage. Thanks for your insight.
If you want to know the reason behind this new megawonderful ultrathrilling “improvement” in Total Rewards, it goes to CE’s mountain of debt. Outstanding slot club point balances are properly recorded on the balance sheet as contingent liabilities. Therefore, they directly affect the company’s net worth, and thus its ability to borrow. But convincing cardholders to liquidate their balances as the result of a “promotion” (NOW!!! REDEEM YOUR REWARD CREDITS FOR FREE PLAY!!!!) enables the company to write their value off as a promotional expense. It’s a neat way to increase the book value of the company without having to pay any taxes.
In other words, they’re not doing this because they love us (except in the way that an orca loves seals).
Thanks for wading through all the Caesars glitz. I got mine today, briefly glanced through, found nothing of interest, and figured they were just trying to hide some bad news. Trading credits for freeplay slipped my attention. Will definitely check out the devilish details.
Jean, I received the same magazine, of course, from Caesar’s. You’re right…the amount of information was exhausting. But here’s my cut. We ALREADY receive a discount on meals. If you look at the menus, you find that cardholders receive a dollar or so off the prices that are otherwise charged. I doubt there’s a change here, unless they give us another dollar, ha! As for using your rewards credits for free play, my guess is that it will be at the same rate as the Great Gift Wrapup, which was 30,000 points for $100 in free play. I guess for someone who accumulates a lot of points, that may be worthwhile. However, for the average player, and I’m including Diamond are holders, that’s really not much, since you’re much better off using your points for free meals. 30,000 points is a lot for even diamond players to accumulate in one trip.
Unless I’m missing something, I agree with you that CET’s much-ballyhooed Total Rewards changes are really underwhelming.
I have lots of CET Reward Credits too, and I can only eat so fast. My guess is that they’ll allow redemption of both old and new RCs, but only at 2:1. Hope I’m wrong.