Comments on: Slot Club Newsflash

By: MarilynAnn

MarilynAnn — Tue, 21 Feb 2012 15:22:33 +0000

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.

By: Kevin Lewis

Kevin Lewis — Fri, 17 Feb 2012 18:36:40 +0000

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).

By: Gayl

Gayl — Thu, 16 Feb 2012 05:18:46 +0000

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.

By: Dan Sowards

Dan Sowards — Wed, 15 Feb 2012 22:55:21 +0000

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.

By: Wendell Pendell

Wendell Pendell — Wed, 15 Feb 2012 22:04:02 +0000

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.