Tonight I was given the information about the "preferred free play redemption rates" for converting comp dollars into free play at the Caesars Total Rewards casinos.
It was about a year ago, I believe, that Caesars Total Rewards allowed for comp dollars or "reward credits" to be used to purchase free play.
As of now the conversion rate is fixed at 2 reward credits for one dollar of free play. So you would have to exchange 200 comp dollars for 100 free play dollars.
However this is changing dramatically effective April 1, 2013. The change is part of the Total Rewards overhaul.
Starting April 1, there will be "preferred free play redemption rates" for certain tier levels. Effective April 1 the exchange rates will be:
Gold 200 comp dollars purchases $100 of free play
Platinum 200 comp dollars purchases $100 of free play
Diamond 175 comp dollars purchases $100 of free play
7 Stars 125 comp dollars purchases $100 of free play
This is an unusually good opportunity for 7 Stars players because in many cases their play earns more than enough comp dollars (reward credits) to pay for their hotel stays. Remember that 7 Stars players typically get free rooms and that frees up a lot of "reward credits" for other purposes. It is not unusual for Seven Stars players to have excess reward credits or comp dollars that are typically used for purchases from the Total Rewards gift catalog or to purchase items from the gift shops or even gas cards or department store gift cards. Now the free play option becomes more attractive.
Unless you need to use your reward credits to cover a hotel bill or other purchases, it makes sense for Diamond and Seven Stars players to try to conserve those reward credits for free play until April when the buying power of reward credits will increase dramatically. This new rule also increases the value of the Seven Stars tier level.
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