After about 2 years of rumors this 2:1 Total Rewards comp policy has just entered Las Vegas. Here are details from the Seven Star Insider newsletter (which you should sign up for):

Searsucker Sucks Twice The Comps

If you’re planning to try the newest restaurant at Caesars Palace, note that, while Searsucker accepts Reward Credits, it will be at the rate of 2:1, e.g., your $150 tab will consume 30,000 Reward Credits ($300).

So, this 2:1 Total Rewards point policy essentially cuts the value of your Total Rewards points in half when you dine at Searsucker. It’s possibly the most obnoxious players club policy I’ve come across since visiting casinos.

• Good News: This policy hasn’t been unleashed across all Caesars Entertainment restaurants in Las Vegas.
• Bad News: It’s probably only a matter of time before the majority of restaurants at Caesars Entertainment charge $2 Total Rewards for $1 in cash.

I don’t know how quickly this 2:1 Total Rewards point policy will roll out in Las Vegas but it seems like a good time to use them while the exchange rate is still 1:1 at most restaurants at Caesars Entertainment hotels.

Early reviews on Searsucker have been mostly positive. You can learn more about the restaurant here.

If you see 2:1 comps elsewhere in Las Vegas leave a comment and I’ll update this post.