Quote:
Originally Posted by JM  Seems to me the LV gaming commission rules says they must be destroyed and can't be sold. |
To be more precise...
Nevada Gaming Regulations state that discontinued chips/tokens are to be destroyed in a manner approved by Gaming. Often times this means physical destruction. HOWEVER, in the case of the Dunes Golf Course chips, they were supposed to be drilled for keychains, or otherwise placed into holders and used as money clips and key chains.
I'd be willing to bet if one of those existed it would fetch a pretty penny!!
Anyway, the point is, Nevada Gaming may approve destruction as being drilling a hole in the chip, or even doing nothing to the chips (in the case of a casino going out of business). And there is also legal presendence in Nevada that supersedes Gaming's requirement in the case of bancruptcy.
The Sundowner chips (Downtown, Las Vegas) hit the market after being sold in the bancruptcy auction and I believe that Gaming tried to exclude the chips. But the court ruled that the cerditors were entitled to anything of monetary value, i.e., the chips in auction.
With all the Horseshoe chip coming into the market place, why are we not asking how these avoided destruction? Hmmmmmm.
I doubt that the chips in question have been destroyed. There is plenty of room in the vault for old chips, especially if a back-up set needs to be rung in post haste!
For what its worth!
Jim (Gaming Ore) Follis
BTW-Not to give anyone nightmares, but this is the end result of a physical destruction!
