Posted on: August 1, 2023, 02:32h.
Last updated on: August 1, 2023, 02:32h.
The Cosmopolitan of Las Vegas is set to join the MGM Rewards loyalty program on February 1, 2024, marking a highly anticipated entry into the popular program.
The announcement was made by MGM Resorts International, the operator of the luxurious Strip casino resort. This development comes after MGM acquired Cosmopolitan’s operating rights 15 months ago for $1.6 billion. The current loyalty platform for Cosmopolitan is called Identity.
Until the transition, Identity members may continue to play and earn with Identity and their earnings will be recognized when determining their MGM Rewards Tier Status in 2024,” according to a statement issued by MGM. “Identity members will retain their offers and benefits through January 31, 2024 and all Identity Points will carry over to their membership with MGM Rewards consistent with the program rules.”
MGM reached a 30-year lease agreement with the consortium that owns Cosmopolitan’s real estate assets, which includes the Cherng Family Trust, Stonepeak Partners, and Blackstone Real Estate Income Trust (BREIT). The initial annual rate is $200 million, with a 2% increase per year for the first 15 years, followed by a 2% increase or the rise determined by the Consumer Price Index (CPI), capped at 3%.
Impact of Cosmopolitan’s Entry into MGM Rewards
The integration of Cosmopolitan into MGM Rewards is a significant development for both the Las Vegas Strip and the gaming industry’s loyalty programs. This move opens up more opportunities for travelers and bettors to earn valuable points, including through dining, hotel stays, and gaming.
Additionally, points can also be earned through BetMGM, which is the largest internet casino platform and one of the leading online sportsbook operators in the United States.
Starting in February, all MGM Rewards members will be able to earn and use MGM Rewards Points, Slot Dollars, and Tier Credits at The Cosmopolitan. This includes access to the resort’s accommodations, dining options, entertainment, slots, and table games,” MGM stated.
MGM Rewards offers five tier levels: Sapphire, Pearl, Gold, Platinum, and NOIR. The NOIR tier is invitation-only.
Busy Period for MGM Rewards
The announcement regarding Cosmopolitan’s entry into MGM Rewards comes shortly after the partnership between MGM and Marriott International for the debut of the MGM Collection with Marriott Bonvoy.
This collaboration is expected to provide lucrative opportunities for the more than 220 million members of the MGM Rewards and Marriott Bonvoy programs. Notably, Marriott already had a hotel partnership with Cosmopolitan prior to this agreement.
“The MGM Collection will launch in October 2023 and will include 17 of MGM’s renowned resorts, totaling over 40,000 rooms in Las Vegas and other cities across the United States,” MGM concluded. “In addition to being part of the MGM Collection, The Cosmopolitan will continue its relationship with Marriott Bonvoy’s Autograph Collection Hotels brand.”