Caesars Entertainment and SL Green announced Thursday that the casino operator is expanding its customer loyalty program to accommodate New York City-area businesses. That's because the company is trying to win approval to bring the gaming venue to Times Square.

 

With over 60 million members, Caesars Rewards is the gaming industry's largest loyalty platform. The gaming giant and the real estate investment trust (REIT) announced last October that they were teaming up to bring a casino hotel to 1515 Broadway in Times Square. Roc Nation, the entertainment outfit controlled by rapper Jay-Z, has since joined the consortium.

 

When Caesars Palace Times Square opens in Manhattan, Caesars Rewards members will be able to use their Reward Credits by converting them to a gift card valid across the Caesars Rewards gift card network, including participating hotels, restaurants, retailers, Comedy clubs, entertainment venues and all of New York," according to a statement.

 

Caesars is the largest casino operator in the United States by number of venues. Members of its loyalty platform can earn points through the Caesars Sportsbook app and at non-gaming hotels.

 

Caesars Takes Advantage of Rewards in New York

As part of an effort to build relationships with local businesses, Caesars and SL Green have been signing up businesses to join the Alliance for a Better Times Square, a group of restaurants, theater groups and trade associations, among others. Last month, the coalition backed plans for a casino in Times Square.

 

It could be a shrewd move for Caesars and SL Green to work with the league and use the bookmaker's incentive program to include local businesses. That's because opposition to Times Square casinos has largely centered on concerns that such venues would allow tourists to place bets inside rather than venture out to local restaurants and theaters.

 

Caesars hopes to allay these concerns by allowing members of its loyalty program to use tier points to buy gift cards that can be redeemed at local businesses. Plus, it has some perks for points fans as they can earn tier points at these businesses when they use the Caesars Rewards credit card.

 

The Caesars Rewards Visa is issued in partnership with Bread Financial, a financial services company specializing in private-label and co-branded credit cards, installment loans, and Buy Now Pay Later (BNPL).

 

Caesars Palace Times Square Floor Plan

Caesars and SL Green are among the industry giants vying for casino licenses in New York City, with three of them expected to be awarded later this year. Several other rival groups are also eyeing Manhattan, while some rivals are considering Brooklyn, the Bronx, Long Island and Queens.

 

As is the case with almost every other consortium vying for downstate permits, Caesars, Roc Nation and SL Green promise massive construction jobs and thousands of high-paying permanent union positions.

 

"The venue will include a 250,000-square-foot gaming and 950-room hotel. Caesars Palace Times Square will be 100 percent privately financed," the companies said.