DealerBusts is correct - though in the beginning everything was 5x except craps and roulette which don't count.
What was a great loyalty program suddenly became a slightly better than average one, unless you're a video poker or slots player, in which case this is the best program on the Net.
It does depend a bit on what you call "loyalty" though, as what we're talking about essentially means cash comps.
Some casinos send gifts, dinner coupons, special offers, etc. which often make a difference to the true value of a loyalty program. As far as I know, Liberty does not normally do this.