So when's the next casino going belly up? (1 Viewer)

[MD Mike]

I want to get my greedy little hands on some fresh virgin secondaries and I've never been around when the opportunity has presented itself.

 

[DrStrange]

It takes more than one going under - it has to happen in a jurisdiction where the chips can be resold. That knocks out a lot of the prospects. And then the place has to be big enough to have a large chip set.

I think we will need to wait for the next recession to hope for another wave of closures (and then will not have the money to buy all the chips we would want).

DrStrange

 

[Quicksilver-75]

Well here in Ontario it should start pretty soon. Our Provincial Gaming Nazis have decided to relinquish direct control of many of our slots and charity casinos. One has already taken place in a town Northeast of Toronto, in Gananoque called the Thousand Islands. It is now called Shorelines at Thousand Islands http://www.themogh.org/cg_chip2.php?id=ONGASC

My local casino in Brantford will be rebranded soon as well. So I have my fingers crossed they get some really nice chips. There should be a flurry of rebranding and casino expansion here over the next few years so keep you eyes open. Sadly the OLG wont sell their old chips.

 

[Wils]

It's always struck me as ironic that a lot of Poker chip collectors play at casinos, and yet the only way to get hold of some new chips sometime is to see those casinos go bust.

Such is life.

 

[MD Mike]

Keepin my eyes glued to PCF for an opportunity.

 

[RagsPoker]

My local casino in Brantford will be rebranded soon as well. So I have my fingers crossed they get some really nice chips. There should be a flurry of rebranding and casino expansion here over the next few years so keep you eyes open. Sadly the OLG wont sell their old chips.

Have you heard anything about Point Edward Casino? Just curious as I go there occasionally....doesn't seem to be nearly the crowds as in past years and they've removed some tables in the pits (no craps, very few blackjack tables).

 

[Jeff]

I hope any failed casino is in Washington or Missouri. Proven history of secondary market jackpot. Go Chiproom.

 

[Quicksilver-75]

Have you heard anything about Point Edward Casino? Just curious as I go there occasionally....doesn't seem to be nearly the crowds as in past years and they've removed some tables in the pits (no craps, very few blackjack tables).

Nothing directly. But it was mentioned on our local news about being rebranded. As for a timeline; who knows? Soon I hope because that casino has some of the worst Paulson chips in Canada!

 

[BGinGA]

I hope any failed casino is in Washington or Missouri. Proven history of secondary market jackpot. Go Chiproom.

Add Illinois and Indiana to that list (Empress, Grand Victoria).

 

[gpc]

The Cleveland Horseshoe is to be re-branded. I assume it will mean new chips but I don't know what the gaming commission will say about the old chips.

 

[links_slayer]

Every time I go to Ho-Chunk I ask at least three different people what happened to their old chips (RHC w/ giant inlays). It's usually followed by a "why do you want to know" followed by blank stares when I tell them I know a guy that wants to buy them. As much as I hate playing with used/worn giant inlay chips I can't help but daydream about how sweet it would be to have a playable set of 'em.

 

[Ronoh]

The Cleveland Horseshoe is to be re-branded. I assume it will mean new chips but I don't know what the gaming commission will say about the old chips.

Yeah, I sent emails to Cleveland and Cincinnati months ago inquiring about their fate/give my interest in purchasing the lot. I was told my request would be directed to the relevant parties and haven't heard back since

 

[Kenny_Dies]

it has to happen in a jurisdiction where the chips can be resold.

How is the law in the US? Most chips has to be destroyed after a casino closes, as like in vegas right?
what about the PNY cruise ship which never opend its doors, the same? Because Paulson chips are handled as currency?

 

[DrStrange]

Each state sets it's own rules for running gaming establishments. Some of them mandate the destruction of obsolete chips (but drilling, notching, cancelling might be ok). I think New Jersey has the state redeem old chips at face value if they aren't otherwise destroyed. Nevada requires that the void chips be destroyed. Some states have such difficult regulatory rules that companies like the chip room will not be able to resell void chips. And then there are other states where defunct chips can be resold.

There will be exceptions and unique cases that bend/break the rules, but some of the best prospects for massive chip sales are in states where it isn't likely to happen. I can only dream of the sets I'd have if the failed & rebranded Vegas rooms could resell the void chips.

DrStrange