Hhonors used to offer a casino chip reward back when Park Place was part of Hilton and they owned Las Vegas Hilton.
So back then you could legally cash in HHonors points for chips at the LV Hilton casino and then cash those in for cash. I believe it was 100,000 HHonors points equalled $400 in chips? Not the best value, but it was a way to convert them into cash.
I believe I moved 50,000 airline miles over to HHonors (converted into 100,000 HHonors points) and then used 200,000 HHonors points for two certificates worth a total of $800 cash.