Caesars signs partnership deal with Bakkt to make crypto rewards available to customers
Reno, Nevada-based Caesars Entertainment Incorporated has announced the signing of a partnership deal with Georgia-based Bakkt Holdings to make the latter’s crypto rewards product available to millions of Caesars customers.
In addition to offering avenues for customers to earn & redeem loyalty points across various programs, Bakkt Holdings operates a cryptocurrency payments & trading platform that can easily be integrated into banking mobile apps and rewards programs.
Bakkt – the provider of crypto custody and digital wallet services – also said its collaboration with the casino giant will allow millions of Caesars’ customers to reap the benefits of crypto rewards in Las Vegas, which is unquestionably one of the world’s best gaming entertainment hubs.
More specifically, the deal will enable millions of Caesars’ customers to redeem their rewards credits using Bakkt’s crypto rewards system. However, the option will become operational only after the companies secure all required regulatory approvals.
Caesars Rewards Program is a loyalty program linked to the operator’s offerings across entertainment, gaming, hospitality, shopping etc. It covers nearly five dozen destinations and as many as sixty million customers worldwide.
Announcing the partnership at a recent press release, the two partners also revealed details of a planned renaming of the up to date entertainment venue Planet Hollywood Resort & Casino to Bakkt Theater. Formerly known as Zappos Theater, the venue has been actively entertaining customers since the year of 2013. It is in fact one of the A-list entertainment venues in Las Vegas.
Caesars and Bakkt also announced that they could further expand their relationship by exploring other innovative ways to integrate and utilize Bakkt’s innovative suite of crypto solutions.
In a joint statement, the two partners said, “Bakkt and Caesars will share additional details on forthcoming crypto offerings soon. Legends Global Partnerships represented Caesars Entertainment in sourcing and negotiating the strategic agreement with Bakkt.”
By the number of venues, Caesars Entertainment is the largest casino operator in the United States. Members of its loyalty platform can accumulate points through the Caesars Sportsbook app as well as at non-gaming hotels, among some other avenues. The company offers six tier levels, viz. Gold, Platinum, Diamond, Diamond Plus, Diamond Elite, and Seven Stars; which allow customers to earn at least one credit for every dollar spent. In addition, there are a myriad of physical locations to earn rewards.