Bump, interested in this response as well. Specifically looking to stay at Bellagio via FHR but would like to use Food & Beverage credit instead of Spa.
When I log in to Amextravel, I see an offer on Bellagio for $100 F&B in addition to the spa credit. Read the T&C, but it looks like you have to book 2 nights by Aug 31 and stay by Dec 29. Looks like a great deal.