Wynn Resorts, Pinnacle Form Las Vegas Strip Casino Alliance
Pinnacle Entertainment Inc. (PNK), owner of seven U.S. casinos, formed an alliance with Wynn Resorts Ltd. (WYNN) that lets customers use their loyalty points at the Wynn and Encore resorts on the Las Vegas Strip.
Pinnacle, which doesn’t have a Strip casino, and Wynn, which doesn’t have other U.S. casinos, negotiated a deal that lets big spenders at Pinnacle’s Louisiana, Missouri, Indiana and Nevada properties use rewards to stay at Wynn resorts.
Casino companies view loyalty programs as a potential source of growth. Caesars Entertainment Corp., the world’s largest casino company, has led the industry in attracting gamblers to its Strip casinos by using its Total Rewards program to draw customers from its U.S. properties outside Las Vegas. Pinnacle Chief Executive Officer Anthony Sanfilippo said last month he was mulling such an agreement, without naming the ally.
Pinnacle rose 12 cents, or 1 percent, to $12.63 at 4 p.m. in New York Stock Exchange composite trading. Wynn gained $1.03 to $128.09 in Nasdaq Stock Exchange trading. Both are based in Las Vegas.
MGM Resorts International (MGM), owner of 10 Las Vegas Strip properties, is negotiating marketing alliances with other casinos, including American Indian operators, Jim Murren, chairman and CEO, said in a January interview. MGM also owns resorts in New Jersey, Mississippi and Michigan.
Las Vegas Sands Corp. (LVS) said in October its Venetian and Palazzo casino resorts in Las Vegas will join InterContinental Hotels Group Plc’s database and loyalty program, gaining access to travelers who can help fill the properties’ 7,000 suites.
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