Cosmopolitan to Join MGM Rewards in February 2024

Posted on: August 1, 2023, 02:32h. 

Last updated on: August 1, 2023, 02:42h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

The Cosmopolitan of Las Vegas will make its long-awaited entry into the MGM Rewards loyalty program on Feb. 1, 2024.

MGM rewards
Cosmopolitan Las Vegas. The venue will join MGM Rewards on Feb. 1, 2024. (Image: YouTube)

MGM Resorts International, the operator of the posh Strip casino resort, made the announcement on Tuesday. The news arrives about 15 months after MGM completed its acquisition of Cosmopolitan’s operating rights. MGM reached a deal in September 2021 to purchase those rights for $1.6 billion from private equity firm Blackstone. Cosmopolitan’s current loyalty platform is known as 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.”

A consortium consisting of the Cherng Family Trust, Stonepeak Partners, and Blackstone Real Estate Income Trust (BREIT) owns Cosmopolitan’s real estate assets. MGM entered a 30-year lease agreement with that consortium at an initial annual rate of $200 million. That rises 2% per year over the first 15 years. After that, the yearly increase is 2%, or whatever the rise is by the Consumer Price Index (CPI), capped at 3%. After the initial 30-year term, MGM has three 10-year renewal options.

Cosmopolitan MGM Rewards Entry Matters

With MGM ranking as the largest operator on the Las Vegas Strip and MGM Rewards being one of the largest loyalty programs in the gaming industry, it stands to reason to points-enthused travelers have been wondering when Cosmopolitan and MGM Rewards would hook up.

Now, they have an answer. MGM has expanded the ways guests and bettors can accrue points, including increasing the number of points-earning opportunities on dining, hotel stays, and gaming. Points can also be earned via BetMGM, which is the largest internet casino platform and one of the largest online sportsbook operators in the US.

“Beginning in February with the program’s integration, all MGM Rewards members will have the ability to earn and use MGM Rewards Points, Slot Dollars, and Tier Credits across their experiences at The Cosmopolitan, including the resort’s incredible array of accommodations, dining, entertainment, slots and table games,” added MGM in the statement.

MGM Rewards has five tier levels, including Sapphire, Pearl, Gold, Platinum, and NOIR, which is an invitation-only tier.

Busy Stretch for MGM Rewards

News of Cosmopolitan’s official entry date into MGM Rewards arrived about two weeks after the gaming company and hotel operator Marriott International announced the debut of the MGM Collection with Marriott Bonvoy.

That partnership is expected to create significant points-accruing opportunities for the more than 220 million members of the MGM Rewards and Marriott Bonvoy programs. Interestingly, Marriott already had a hotel partnership with Cosmopolitan.

“The MGM Collection?will launch in October 2023, and ultimately encompass 17 of MGM’s unrivaled resorts, representing more than 40,000 rooms in Las Vegas and other cities across the US,” concluded MGM. “In addition to being part of the MGM Collection, The Cosmopolitan will continue its relationship with Marriott Bonvoy’s Autograph Collection Hotels brand.”