Bakkt Holdings, Inc., a company focused on unlocking the crypto economy for partners through commerce and loyalty programs, has announced a partnership with US-based casino-entertainment firm Caesars Entertainment (NASDAQ: CZR).
The deal sees the Bakkt Crypto rewards come to the Las Vegas strip, with Caesars not just the leading entertainment company in the United States, but also one that is among the most diversified providers of casino-entertainment.
Legends Global Partnerships helped source and negotiate the strategic agreement.
According to Bakkt, its partnership with Caesars is set to bring the benefits of crypto rewards to customers of one of the best entertainment providers in Las Vegas, itself “the entertainment capital of the world.”
Specifically, the collaboration will see millions of Caesars’ customers be able to redeem their rewards credits through the Bakkt Crypto rewards system. The option will be available once the companies secure regulatory approval and will benefit millions of Caesar’s customers.
Currently, Caesars Rewards is a loyalty program connected to the company’s offerings across entertainment, gaming, hospitality, and shopping among others. It covers more than 50 destinations and up to 60 million customers worldwide.
Also revealed in a press release obtained by Invezz are details of a planned renaming of the Planet Hollywood Resort & Casino to Bakkt Theater. The state-of-the-art entertainment venue, formerly Zappos Theater and in operation since 2013, is one of the A-list entertainment spots in Las Vegas.
Bakkt and Caesars will also look to expand this relationship by exploring other innovative ways to integrate Bakkt’s suite of crypto solutions, the companies announced.
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