Caesars to file for bankruptcy in January, may lay off employees this week

[Dan Druff]

http://www.mynews3.com/content/news/...iDbYk.facebook

[Alan Mendelson]

Thanks for posting. The question for us players is what impact will it have on Total Rewards? Will the program be curtailed? Will Reward Credits be devalued or even become worthless? Will policies on comps change?

My guess is that Caesars will do NOTHING to harm its players or to hurt the confidence of its players. If they mess with RCs or Total Rewards it's the fastest way to destroy a company.

I wrote about this before: when General Motors went into bankruptcy it did not alter its reward system that offered points for discounts on new cars through its GM Credit Card.

[Dan Druff]

I agree with you.

I think they won't change TR based on this, and will only make changes based upon factors independent to this situation.

[Alan Mendelson]

Update from the Las Vegas Review Journal website Thursday evening:

http://www.reviewjournal.com/busines...less-1-percent

In the article a reduction in marketing costs is mentioned for a possible bankruptcy. That's a "broad" category and might not affect individual players. But I wouldn't rule out anything though it would be counterproductive to drive away loyal customers.

[RoeIncarnate]

I suppose they can always argue in court that the other companies have reward programs so theirs must remain in order to compete.

[carolinajacket]

Which is the absolute truth. They will surely bite the dust if they do away with the reward program.

[Alan Mendelson]

Which is the absolute truth. They will surely bite the dust if they do away with the reward program.

I don't know of any company that dealt successfully with financial problems by hurting its customers. If anything the victims of bankruptcy are suppliers and lenders.

Customers are more valuable than suppliers.