the $600 in points = Visa Refundable OBC ...this is what you are getting. EdandMary are suggesting you can also go to Guest services and cash out this $600 if you wish and now you can do what you want with the $$...play in the casino,etc.
But I know its not your question originally, but there are credit cards that provide a lot better rewards then the Royal Visa card. I believe that the reward is basically equal to 1% of your purchases and 2% on Royal charges.
Citi cash card is 2% (1% for purchases and 1% on payments)...admittedly this is even a somewhat lousy reward card, but certainly better then the Royal Visa. Just food for thought.