Jim,

Taxation is not the only time where the issue would come up.

The taxation issue is where the casino would want to argue that the Outstanding Chips laibility is really a liability and that the chips will be cashed in.

But there are some instances where a casino might want to argue that the Outstanding Chips are not a true liability.

One such time would be when presenting financial statements to a potential financier or investor . . . where they wish to demonstarte the health of the casino.

Is there some accounting principle that would take into account the liklihood that this liability will never have to be paid (or at least a portion of it will never have to be paid) that would allow the liability to be removed from a financial statement?