Crypto firm Bakkt partners with Caesars; earns naming rights of Planet Hollywood Casino's theater

Crypto technology company Bakkt Holdings announced Thursday a partnership with US casino giant Caesars Entertainment. As part of the deal, the live entertainment venue at Planet Hollywood Resort & Casino, Zappos Theater, will be renamed Bakkt Theater, and the companies will collaborate to allow Caesars Rewards members to redeem their credits through Bakkt Crypto Rewards, pending regulatory approval.

“Bakkt and Caesars will continue to explore and innovate around Bakkt’s existing suite of cryptocurrency solutions. Additional details on this offering and the timeline for rollout will be shared soon,” the parties stated.

Bakkt’s Chief Marketing and Sales Officer Mark Elliot said: “As today’s customers grow to be increasingly savvier online, we look forward to offering new crypto options to millions of Caesars’ customers. We’re thrilled to solidify our relationship with Caesars with the naming of Bakkt Theater and the integration of Bakkt Crypto Rewards into the Caesars Rewards program.”

As the digital economy continues to evolve quickly, Bakkt and Caesars partnered to ensure their customers have "a seamless experience, both online and through more traditional customer retention methods.” 

Megan Rodriguez, Senior Vice President of Loyalty and CRM with Caesars Entertainment, said: “We are constantly looking for new and unique ways we can expand the wealth of benefits associated with Caesars Rewards. We look forward to exploring how Bakkt’s crypto offerings will differentiate Caesars Rewards and help us continue to be the leader in this space.”

Through this relationship, the Bakkt brand will come alive in Las Vegas as the namesake for The Strip’s newly renamed Bakkt Theater, which has been hosting entertainment in Las Vegas since 2013. Bakkt and Caesars will share additional details on forthcoming crypto offerings "soon." 

Jason Gastwirth, President of Entertainment for Caesars Entertainment, added: “Bakkt Theater showcases the best in live entertainment and experiences to match the extraordinary talent roster the venue features. We’re pleased that Bakkt recognizes the unique destination we’ve created at Planet Hollywood, and we are excited to have them join us in the venue’s next chapter.”