The only way to earn loyalty points is by completing achievements on 'my strip' or betting a enough chips. You can earn loyalty points which you can redeem on MGM properties and MGM partners. This method of acquiring chips was patched out with ShaqJack, it is now significantly harder to acquire chips through bonus rounds. I have not purchased any chips, I earned chips by collecting 3200 chips every 4 hours and the playing spin wheel for chips which has a 3x multiplier for consecutive play. They also have 6 deck and free bet blackjack with the same rules as above. In this game, I mostly played the Single Deck, 3/2 Blackjack payout, DAS, no surrender, 2 splits max, dealer checks for blackjack, shuffles after every game (continuous shuffler). Instead of adding these stages, the last two content patches added a slot machine into a Blackjack game and added ShaqJack (Burn 20 Blackjack).
There are 3 more stages to go, Monte Carlo, Mandalay Bay, and Bellagio before you 'beat the game'. My strip currently ends at Luxor and they have not added more since the past two updates. I have just recently finished grinding out all the gold achievements on the 'my strip' board.
I have been playing myVegas Blackjack since it was released.