No matter what happens we'll probably not see much change for about 2 years.
if a deal happens, we won't see it close until late this year or early next year. Then any sort of revamp of the rewards system won't be for another year at least. Eldorado has owned Tropicana since October and they haven't changed anything yet and I haven't even seen a plan to create a single card system throughout the company as of now.

Even the other mergers recently like Penn/Ameristar, Golden Gaming's acquisitions have taken over a year before they even started to merge players systems. Boyd bought the Cannery Casinos and two years later still haven't even brought them into B Connected even though they plan to.

My guess is whoever ends up with Caesars will keep the Caesar's Rewards program being its the largest and best known one nationally and roll it out to their other properties, not the other way around. I'm sure there will be a few changes but it won't go away as we know it.