Party email offer: $200 for 2400 points

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Wait, I still am kind of confused.

Can someone help me with how the cashout restricted bonus works.

I have $1000 in my account now.

I opt in for the $200 bonus so now my account says $1200 but I can't cash out the $200 until I clear 2400 points.

So I go to BJ with $200 and lose it on 2 hands. So now I have $1000 again. But if I try to cashout my $1000 now, won't $200 of it be cashout restricted still?