Credit-card Program

MGM Mirage to set up credit-card program with Bank One

Gambling giant MGM Mirage announced a new credit-card reward program that will allow card holders to redeem points at the company’s casino resorts. The initiative is to enable participants to use credit-card points in order to spend them at restaurants and hotels but not gamble.

According to Associated Press cited by Seattlepi.nwsource.com, MGM Mirage is to co-operate with Bank One to develop this program. Therefore, the company is to become at least the third U.S. gambling company to organize a credit-card reward program following Harrah’s Entertainment – MBNA and Caesars Entertainment – Juniper Bank deals.

“Customers can do more than gamble at the resorts, especially in Las Vegas where live shows, dining and other entertainment generate as much revenue as gambling. The type of clientele we are reaching is different than what it was 10 years ago. We are targeting other customers outside of the casino,” said Stephen Moore, an MGM Mirage vice president.

According to Hugh Bleemer, executive vice president of cobranding at Bank One’s card services division, the relationship between credit card companies and casino operators evolved with the recent mergers and industry growth. “There hasn’t been a consortium of hotels with a broad enough reach to offer a program before. As hotel properties consolidate and these consolidated properties expand their reach they become more national programs and attractive,” he commented.

MGM Mirage’s representatives predicted the project’s rousing prospective and claimed that people would sign up for the card taking advantage of its current properties, such as the Bellagio, MGM Grand and Treasure Island.

John Mulkey, a Bear Stearns gambling analyst, stated that gambling industry, which is now maturing, intends to build brand awareness and extend its reach. “Gambling is an increasingly accepted form of entertainment in the United States. As the industry grows, the value of the sector’s top brands should only increase,” he added.

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