Since these chips never had any cash value ... there was nothing redeemable to "cash out"...

With few exceptions, most Fun Nite chips have little value ($3-$5) range. Some exceptions might be roulettes such as certain colors and table numbers that were in use at Harrah's at Trump Plaza. Some A.C. casinos used generic Fun Nite chips and are worth only $1 or $2 at most.