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The qualifying periods are six months. One is June 15th to Dec 15, the other, same dates Dec to June. A friend of mine said his level dropped and he was turning back to a silver card, so I asked if I could have his old black card for my collection. Of course he thought I was crazy, but here it is. I blurred the name and number, the rest of the card is that worn from use.
The main benefit is Solstice Lounge Access. (I have no clue what that means, because I've never seen it.) I was told it included free food at times during the day. There are also special tables and games in the Solstic Club area, with some higher limits.
Just for information, the Red card is entry level, everyone gets that. The second card level is Silver cards 40,000 points in the qualifying period. I don't know how many dollars played = a point. I'd have to drop something into a machine to find out. I live here and haven't been in the casino in three years. We used to go for Easter brunch, and they have an excellent brunch and very good food, all year round. My last stop was because of repairs on the Interstate, which took me down into the river valley, so I stopped. Beautiful casino. Too bad I'm not a gambler. 
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