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CET potential sale and the direct effect to reward credits

Discussion in 'Comps' started by AlPal, Apr 14, 2019.

  1. AlPal

    AlPal Low-Roller

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    The other day I posted I like to hoard my reward credits with CET. However with the talks of a CET sale in the very near future should I burn them on my next trip? Or would any potential sale take so long to develop that I shouldn’t be concerned? I generally go to Vegas 6-10 times a year. Once a sale is finalized would there be a grace period, or would they be worthless immediately in your opinion? Thanks!
     
    Laughlin/Vegas
    August Group Trip!
  2. BreakEven

    BreakEven High-Roller

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    Burn them.

    They won't be immediately worthless, but you should expect them to have decreased value. At least that's what past history shows for all other sales/program mergers.
     
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  3. Patman

    Patman High-Roller

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    I think until it happens, you could have any of the situations you listed above be the result. You may not know until it is too late. More than likely, they won't try to burn the players too badly but I wouldn't risk the worse case scenario.

    Edit: I'm not saying that it will change with an announcement of a sale. But something will happen (bad or indifferent) when they change over the players club.
     
    Last edited: Apr 14, 2019
    thought i would stay here one time before it is torn down
    2 hotels I've never stayed at this trip
  4. DoctorD

    DoctorD Low-Roller

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    I think that it would take a while to pass all of the regulatory hurdles and such.

    A key thing to take advantage of if they were devaluing the points would be to transfer to Wyndham points.
    Up to 30,000 points can be transferred a year.

    Free rooms from them can be 7,500 - 30,000 a night
    Low End places are 7,500. Regular places are 15,000. High end are 30,000.

    D
     
  5. meyers67

    meyers67 VIP Whale

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    Don’t hoard them and don’t burn them. Just use them as you pay for meals or entertainment.

    If you want a savings account, go to a bank.
     
    Seven Stars Signature Event
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  6. AlPal

    AlPal Low-Roller

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    I have been blessed with a great streak of winning trips and haven’t felt the need to use them. They are there if I want to splurge, or if I have a bad run and want to burn them.
     
    Laughlin/Vegas
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  7. sinnerman

    sinnerman Low-Roller

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    I think I may have posted on the other thread too, but always burn your RC's if possible and never hoard them. They may not be devalued, but they can be. Cash in the bank is always better than points, if you can make the choice.

    Of course, when you burn them don't waste them on a 2:1 conversion, like for FP. Find a place where you still get 1:1.

    One thing I do, when I travel with friends or acquaintances, I ask them if I can settle their hotel or restaurant bills with my RC's, and then have them pay me 80% of that amount in cash. And if it is family, I just give them a free treat of a hotel room.
     
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  8. The Rumor

    The Rumor VIP Whale

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    It's all rumor and speculation...I wouldn't get too caught up in it, especially given how long it would take for a merger to happen followed by the time between merger and any proposed changes. And there's no guarantee that a buyer wouldn't opt to use TR over their own rewards.

    Keep in mind that CET has depreciated them over time anyway. In general, you should use them up as you earn them.
     
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  9. nostresshere

    nostresshere Mr. Anti Debit Card

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    During corporate mergers, the common concern is they will FIRE everyone. Wrong - they need people.

    Same if somebody bought CET - they NEED customers. Last thing they would do is toss RCs. Over time, they might devalue some, but not right away. Without customers, they are dead in the water.
     
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  10. nostresshere

    nostresshere Mr. Anti Debit Card

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    I am confused with this logic. Winning or not, if you have them, why not use them when buying meals, drinks, etc?
     
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  11. The Rumor

    The Rumor VIP Whale

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    eh if you work back of house in the corporate HQ...a lot of people are going to get fired. In particular, one of the big industry commentaries on CET is their cost structure is bloated.

    If I were a dealer, I dunno that I'd be too worried. But if I were a staff accountant? I'd have concerns. If I were the Director of Benefits or VP of Finance? I'd be shitting my pants.
     
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  12. AlPal

    AlPal Low-Roller

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    Personally I figure they will come in handy if I want to splurge on something I normally wouldn’t, or if things get tight sometime and I still want to get away for a few days. Just a personal choice.
     
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  13. Elizakess

    Elizakess Low-Roller

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    I would not burn through them but I would not hoard them anymore either. The worst that will happen is they will not go as far after a merger or sale. I’ve seen some cases where they give equivalent value. I may have lost my free play and food credit with the Palms merger but my comps applied to the new situation. I did not lose any of the comps. Given the percentage Icahn owns and his view on a sale regardless of when it happens it’s going to happen at some point. I would take full advantage of what resort credits I have on my next regular trip and spend them on what you’d already would buy.
     
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  14. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    IMHO, whatever happens, it's going to take some time to move/merge/implement a new rewards system. Look at any of the mergers that have occurred in the last 5 years or so. I predict that it will take at least a year before any new system comes into play.
     
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  15. vegasdev

    vegasdev VIP Whale

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    Burn them or get burnt.
    That is usually the case in these situations.
     
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  16. HeatherC

    HeatherC Low-Roller

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    I'm going to use all of mine for our trip in June. Not taking a chance of losing them or losing value. I'll just charge what I can to the room and use them before I check out.
     
  17. letsgotovegas

    letsgotovegas High-Roller

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    If you are going to use your RCs for food, it’s better to use them at point of purchase. That way you don’t pay sales tax. If you charge to the room, you will have to pay more RCs to cover the tax. This may also be true for other purchases. I’ve never tried it.
     
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  18. HeatherC

    HeatherC Low-Roller

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    Interesting. I was told to charge them to the room so you get tier credits also. Not sure how that works as we've never tried it before. Something to research.
     
  19. spdandpwr

    spdandpwr VIP Whale

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    This is the sentiment at CET, executives are feeling worried, front-of-house staff (dealers, hotel staff, etc) are feeling positive about it. They need strong leadership and the CEOs of CET weren't what the company needed.
     
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  20. Nevyn

    Nevyn VIP Whale

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    As mentioned in that thread, if you are paying for ANYTHING at CET that you can could be redeeming those credits for, you should be burning them down with or without a sale.

    It is a psychological trick you are playing on yourself. If you're going to vegas 6-10 times a year there is no reason to hoard. Instead of saving up points to "treat" yourself someday, use the points, and bank the money saved to "treat" yourself. Not only will that carry less risk of point expiry/devaluation and be better for interest/inflation purposes, but it means that "treat" doesnt have to be at CET, or a 1-1 place if it is.

    If you have everything comped such that they still let you accumulate credits (for instance, you have an outright free room and don't generally dine at CET), then it is a more interesting conversation involving picking something that will have real value for you. But I would not panic about the sale. Closing it would take some time and I very much doubt they would zero out the credits. One of the main assets in such a merger is the player databases, which does little good if you immediately burn them all.
     
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