When comparing players clubs, there are many factors to consider; tiers and tier benefits; value of room and event offers; partnerships; comp return rate. Some clubs are better in one department than another. You should factor that in when choosing where to play.

Today I look at the return rate.  To determine the rate, I’m using the base earning rate for points and the rate at which those are converted to freeplay and “pay with points” comp value. As a general the VP return rate does not apply to “fullpay” video poker or games with 100% theoretical returns. I am not including multipliers unless they are good for all tiers at all times. Most players clubs give you an accelerated earning rate at higher tiers.

There is a  tie for the club with the best return for slot play.  Identity and Mlife  give you $6.66 for $1,000 coin in. Note that for Mlife that $6.66 is split with $3.33 in Express Comps and $3.33 in FreePlay. The club with the best return for video poker is Boarding Pass with a $3  in cashback or slot play for $1,000 coin in.
Total Rewards had the worst returns in both categories, but they tend to have good offers and higher tier perks. Total Rewards also gives Bonus Reward Credits for some games, but those are not guaranteed or predictable, so I did not include them in the calculations.

The following returns are based upon $1,000 coin in.

Mlife    (MGM Resorts)
Slots $6.66 ($3.33 in freeplay and $3.33 in Express Comps)
VP $2.00 ($1.00 in freeplay and $1.00 in Express Comps)

Total Rewards    (Caesars Entertainment)
Slots $2.00
VP $1.00

Boarding Pass    (Station Casinos)
Slots $3.00 (with “Everyday” 3x multiplier on slots and video poker for all tiers)
VP $3.00  (with “Everyday” 3x multiplier on slots and video poker for all tiers)

Club 52  (SLS)
Slots $4.00
VP $2.00

Grazie (Venetian and Palazzo)
Slots $4.80 (based upon 92% slot  machine return)
VP $1.20 (based upon 98% return paytable)

Identity (Cosmopolitan)
Slots $4.00
VP $1.66

24karat   (Golden Nugget)
Slots $3.33
VP $1.00

Riviera Rewards (Riviera -NOW CLOSED)
Slots $2.50
VP $1.25

Royal Rewards (Plaza and Las Vegas Club)
Slots $4.00
VP $1.33

For a comparison of tier advancement rates, check out my Tier Advancement Cheat Sheet.
You can find my overviews of each of the players clubs using the following links.
Mlife
Total Rewards
The Code
Club Grazie
Identity
Riviera Rewards
Royal Rewards
Station Casinos Boarding Pass