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The Chip Board Archive 19

Re: Question for Gene or at least....

Not knowing nitty gritty of NV regs I don't believe that there is chip destruction notice that has to be produced for the public. On destruction of chips; the regs vary from state to state. Where I work I do not have to file with the state if I am going to destroy chips. Most of the time we destroy chips because they are "Mute" (badly damaged); on one occasion I did destroy around 490 (out of 500) commemorative chips for a concert that was canceled. We do have an internal procedure for destruction of chips. (i.e. who needs to be notified, who needs to be present, accounting paperwork and what not).

I would however need to put a public notice in place if I was going to change the rack. An interesting side note, people still come in years later with old chips from the former ownership; many do not understand that we had a corporate takeover and name change 7 years prior, and we had a 120 day notice on the old Harveys chips.

Again, different states and jurisdictions have different regs when it comes to chip or cage (casino) liability; so states have a minimum bankroll calculation that the casino may have to adhere to (Nevada Gaming has a neat spreadsheet http://gaming.nv.gov/bankroll_formula.htm for calculating bankroll) and that may take into account the chip liability; some states such as New Jersey say a chip is good as long as the casino is open, but I'm sure they can still destroy chips, but I don't know their process.

Messages In This Thread

Question for Gene or at least....
Re: Question for Gene or at least....
Re: Question for Gene or at least....
"what happens to the rest"
Re: "what happens to the rest"
Re: "what happens to the rest"
On Michael's point, then unless the casino
Re: Question for Gene or at least....
Re: Question for Gene or at least....
Re: Question for Gene or at least....

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