At the standard rate for vp, $10 coin-in earns 1 reward credit and 1 tier credit. Some vp machines require either $20 or $50, but he played the crappy ones to earn at the fastest rate. (Slots earn at $5 per.)
So presumably he played $26k coin-in. A reward credit is worth a penny. Tier credits qualify toward premium status, which is important because higher status levels can redeem for freeplay at more favorable rates. He also earned a tier credit bonus, but he's probably nowhere near the 7 Stars level that would allow freeplay redemption at $1/125.
True, but it seems likely that a limit would be in effect. I found a couple other Harrah's properties that limit multiplied points to 200k, and sometimes vp is excluded.





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