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Bakkt Crypto Rewards Comes to Las Vegas Strip with Caesars Entertainment
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Bakkt Holdings has announced a strategic partnership with Caesars Entertainment, renaming Planet Hollywood's live entertainment venue to Bakkt Theater. This collaboration allows Caesars Rewards members to redeem rewards through Bakkt Crypto Rewards, pending regulatory approval. Both companies aim to enhance customer experience in the evolving digital economy, integrating cryptocurrency solutions into the loyalty program. Bakkt continues to develop its crypto offerings, with plans to share further details soon.
Positive
Strategic partnership with Caesars Entertainment enhances Bakkt's brand visibility in Las Vegas.
Integration of Bakkt Crypto Rewards into Caesars Rewards could drive user engagement.
Negative
None.
Planet Hollywood Resort & Casino’s leading live entertainment venue to become Bakkt Theater
Caesars Rewards® members will soon be able to redeem Rewards Credits through Bakkt® Crypto Rewards
ALPHARETTA, Ga.--(BUSINESS WIRE)--
Bakkt Holdings, Inc. (“Bakkt”), a technology platform that enables partners to unlock crypto and drive loyalty, today announced a deal with Caesars Entertainment (“Caesars”), the largest casino-entertainment company in the U.S. To launch this pairing, the state-of-the-art live entertainment venue at Planet Hollywood Resort & Casino, formerly known as Zappos Theater, will be renamed Bakkt Theater. Also, the companies’ collaboration includes plans to allow Caesars Rewards® members the ability to redeem their Rewards Credits through Bakkt® Crypto Rewards, pending regulatory approval. Bakkt and Caesars will continue to explore and innovate around Bakkt’s existing suite of cryptocurrency solutions. Additional details on this offering and the timeline for rollout will be shared soon.
“As today’s customers grow to be increasingly savvier online, we look forward to offering new crypto options to millions of Caesars’ customers,” said Bakkt’s Chief Marketing and Sales Officer, Mark Elliot. “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.”
As the digital economy continues to evolve quickly, Bakkt and Caesars are committed to ensuring their customers have a seamless experience, both online and through more traditional customer retention methods. This commitment continues to guide Bakkt in its development of leading crypto solutions and has helped shape the award-winning Caesars Rewards loyalty program, the most extensive loyalty program in the gaming industry.
“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,” said Megan Rodriguez, Senior Vice President of Loyalty and CRM with Caesars Entertainment. “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.”
With more than 60 million members worldwide, Caesars Rewards is one of the largest and most acclaimed loyalty programs in the world. A fully connected ecosystem of gaming, hospitality, entertainment, nightlife, dining, and shopping, more than 50 destinations, and a full suite of mobile products, including Caesars Sportsbook and iGaming, are tied to the Caesars Rewards network. Members can earn and redeem credits across the network for the experiences they value most. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.
Through this relationship, the Bakkt brand will come alive in Las Vegas as the namesake for one of The Strip’s most influential theaters. Since 2013, the newly renamed Bakkt Theater has been recognized as the epicenter of A-list entertainment in Las Vegas.
“Bakkt Theater showcases the best in live entertainment and experiences to match the extraordinary talent roster the venue features,” said Jason Gastwirth, President of Entertainment for Caesars Entertainment. “We’re pleased that Bakkt recognizes the unique destination we’ve created at Planet Hollywood, and we are excited to have them join us in the venue’s next chapter.”
While world-class content and the venue’s capabilities set it apart, amenities and guest experience, including VIP table seating concept, bottle service and multiple seating configurations that allow artists to create the vibe that best suits their show, further distinguish Bakkt Theater from other venues in Las Vegas. With its unique combination of nightlife-inspired amenities coupled with world-class live entertainment content, Bakkt Theater continues to be a premier performance destination in Las Vegas.
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.
About Bakkt
Founded in 2018, Bakkt builds technology that connects commerce. Our vision is to connect the digital economy by offering one platform for cryptocurrency, loyalty, and commerce. We enable our partners and clients to deliver new opportunities to their customers through SaaS and API solutions that unlock crypto and drive loyalty, powering engagement and performance. Bakkt is headquartered in Alpharetta, GA. For more information, visit:
https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment Company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.'s resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the Company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call or text 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate. Must be 21 or older to gamble.
Caesars Entertainment Robert Jarrett, Director of Public Relations
rjarrett@caesars.com
Source: Bakkt Holdings, Inc.
FAQ
What is the significance of the new Bakkt Theater?
The Bakkt Theater at Planet Hollywood enhances brand visibility for Bakkt in a prominent Las Vegas entertainment venue.
When will Caesars Rewards members be able to redeem Rewards Credits through Bakkt?
The capability for Caesars Rewards members to redeem Rewards Credits through Bakkt is pending regulatory approval, with details to be announced soon.
What companies are involved in the Bakkt and Caesars partnership?
The partnership involves Bakkt Holdings (BKKT) and Caesars Entertainment (CZR), focusing on integrating crypto solutions into the Caesars Rewards program.
How will the Bakkt Theater impact the live entertainment scene?
The Bakkt Theater aims to provide unique experiences and boost attendance through its association with Bakkt's crypto offerings.
