Caesars Entertainment is stepping up its rewards program with a new partnership with Bakkt Holdings, the creator of a platform for buying and selling digital assets. The new partnership allows Caesar Rewards members to redeem their points through the Bakkt Crypto Rewards program. This creates a future where points earned spending lavishly at Caesars Palace can be redeemed for crypto currency.
Under the terms of the new deal, Caesars will also be placing the Bakkt name on the theater at its Planet Hollywood property in Las Vegas. The theater, formerly known as the Zappos Theater, will be re-branded as the Bakkt Theater with company branding integrated into the design.
Caesars is using the partnership to help integrate crypto currency, and its users, into its fold as part of an effort to appeal to a broader base of customers. Bakkt’s Chief Marketing and Sales Officer, Mark Elliot commented on the new opportunities the deal brings to his company in a recent press release saying, “As today’s customers grow to be increasingly savvier online, we look forward to offering new crypto options to millions of Caesars’ customers. We’re thrilled to solidify our relationship with Caesars with the naming of Bakkt Theater and the integration of Bakkt Crypto Rewards into the Caesars Rewards program.”
Megan Rodriguez, Senior Vice President of Loyalty and CRM with Caesars Entertainment was similarly enthused about the convergence of loyalty rewards and crypto currencies adding, “We are constantly looking for new and unique ways we can expand the wealth of benefits associated with Caesars Rewards, and it is that consistent push to improve that makes Caesars Rewards best-in-class. We look forward to exploring how Bakkt’s crypto offerings will differentiate Caesars Rewards and help us continue to be the leader in this space.”
Bakkt Holdings and Caesars Rewards have said that they plan to expand their partnership in the future.