Caesars Builds a New Olympus Rewards Tier and Sets the Bar at $1.5 Million

Caesars Entertainment is adding a new rung to the top of its loyalty ladder, and only a select few will get the invite. The company will introduce Caesars Olympus in January as an invitation-only tier above Seven Stars, which has long stood at the summit of the Caesars Rewards program. Caesars plans to notify its founding members in February, and the company has made it very clear that hitting a numerical benchmark doesn’t guarantee a place.

Membership opens at 300,000 tier credits, a total the company estimates would take roughly $1.5 million in spending to reach. The credits will only make a customer eligible, as Caesars will still need to send them an invite.

Customers can earn credits that count toward Olympus through most parts of the Caesars ecosystem, including poker play across WSOP.com and the live World Series of Poker events, as well as table games, slots, tournaments, shows, hotel stays, and betting at the Caesars Sportsbook.

Olympus members will earn reward credits 40% faster than guests in lower tiers, and they can expect suite upgrades and access to exclusive events, such as a seven-day annual retreat. Caesars intends to throw an inaugural founders party at Caesars Palace in March, and the company will introduce a redesigned loyalty card built specifically for Olympus members on Feb. 1.

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Comparisons to the Old Chairman Status

The real allure of Olympus is the exclusivity. Caesars created Olympus to reward its hand-picked highest-value customers, unlike other programs that simply reward volume with points and predictable perks. The invitation-only system turns the tier into a status symbol and gives Caesars a way to give attention to the handful of players who drive an outsized share of revenue.

It also isn’t the first time Caesars has built a category specially for its heaviest hitters.

The company once created a status called “Chairman,” which sat above Seven Stars. Caesars established it specifically for Terrance “Terry” Watanabe, the Nebraska businessman who inherited and expanded the Oriental Trading Company. He reportedly lost $127 million at Caesars Palace and the Rio in 2007 after wagering about $825 million in total.

The perks of this Chairman status included Rolling Stones tickets, a monthly airfare allowance of $12,500, and half a million dollars in credit at the resort’s shops. He also received generous cash back on his large table losses and access to private high-limit games.

The arrangement eventually drew scrutiny, as New Jersey fined Caesars $225,000 over allegations that it let Watanabe continue playing while heavily intoxicated, a claim the casino company disputed.

Las Vegas Focusing on High-Income Visitors

The arrival of the Olympus tier comes at a time when Las Vegas is repositioning itself around wealthier visitors. The Las Vegas Convention and Visitors Authority’s 2025 visitor profile study found that 44% of the city’s guests last year reported household income of at least $150,000, a big jump from 25% in 2024 and just 14% in 2021. Roughly three-quarters of visitors last year were earning six figures, which goes against the traditional budget-traveler base the city was once known for.

The same survey found that first-timers were dwindling, with only 10% of 2025 visitors fitting the bill, down from 24% in 2022. The Strip, especially, is leaning into repeat, high-income guests. Non-gaming luxury such as high-end hotels, marquee restaurants, and exclusive clubs now sets the standard across the corridors, and visitors are spending more on shows, sporting events, and experiences.

A tier like Olympus gives the most valuable repeat customers a reason to funnel their spending under a single casino company’s roof.

Pending Takeover by Fertitta Entertainment

The new tier also comes during a time of major upheaval at Caesars Entertainment. Fertitta Entertainment agreed to acquire the company in late spring in an all-cash deal worth approximately $17.6 billion, including assumed debt. The transaction still needs shareholder and regulatory approval before the companies expect it to close in 2027.

Fertitta owns the Golden Nugget casinos, and if the deal goes through, the companies intend to merge Caesars Rewards with Golden Nugget’s 24 Karat Select Club and Landry’s Select Club into one bigger loyalty platform.

However, Caesars will still send the invitations for Olympus in February, when a small number of the company’s biggest spenders will learn if they’ve made the cut.

Image credit: Theodorus Yerarides/Wikimedia Commons (license)

Andrew O'Malley

Editor

Andrew O’Malley has been involved in the gambling industry for more than a decade. With a background in math and finance, he brings a unique perspective to gambling journalism. He covers everything from the latest prediction market litigation to sports betting scandals and iGaming legislation for publications like Gambling Insider and Gaming America. As a gambling journalist, Andrew closely follows breaking stories while also producing in-depth analysis pieces. He frequently speaks with experts in their respective fields to provide unique and informed perspectives.