Where do the bulk of paulson chips come from? (1 Viewer)

[allforcharity]

I can "drill" chips to save themmmm

Me too

 

[upNdown]

I can "drill" chips to save themmmm

That.
Saves.
NOTHING!!!

 

[upNdown]

It would be nice if casino's could sell fracs for profit and ship

They probably can, but it wouldn't be very profitable. Those fracs are probably costing the casinos a buck fifty apiece, give or take, so they'd have to mark them way up to be profitable and we'd kinda be in the same situation.
Though now that I think about it, I believe vegas (Nevada?) has some funky rules about cash chips that might prevent that. Like, I think that no matter what, the chip is always the property of the casino so they're probably not allowed to "sell" them.

 

[asknoble]

Those fracs are probably costing the casinos a buck fifty apiece, give or take, so they'd have to mark them way up to be profitable

I was hoping they might view the chips as selling them for even $1 apiece realizes extra equity per chip bought vice losing all equity destroying them
I am in for "drilling" the chips!

 

[allforcharity]

Though now that I think about it, I believe vegas (Nevada?) has some funky rules about cash chips that might prevent that. Like, I think that no matter what, the chip is always the property of the casino so they're probably not allowed to "sell" them.

...though this has never stopped members of the CCGTCC from getting hundreds and hundreds, maybe even thousands, of lower denom chips upon first issue for the collectible trade.

 

[cpiaaq]

Nevada casinos aren't allowed to "sell" their chips, it's an outstanding debt, and the casino must keep enough cash on hand to redeem them. That doesn't mean they care if you go home with them. Limited edition chips are an example of the casinos actively encouraging this behavior.

This is a relaxing afternoon read
REGULATION 12 CHIPS AND TOKENS - Nevada Gaming Control Board

edit: Found this gem:
12.090 Promotional and tournament chips and tokens
(d) The provisions of section 12.070 of this regulation shall not apply to promotional chips.

12.070 Redemption and disposal of discontinued chips and tokens
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman may approve or require.

 

[BGinGA]

Nevada casinos aren't allowed to "sell" their chips, it's an outstanding debt, and the casino must keep enough cash on hand to redeem them. That doesn't mean they care if you go home with them. Limited edition chips are an example of the casinos actively encouraging this behavior.

This is a relaxing afternoon read
REGULATION 12 CHIPS AND TOKENS - Nevada Gaming Control Board

edit: Found this gem:
12.090 Promotional and tournament chips and tokens
(d) The provisions of section 12.070 of this regulation shall not apply to promotional chips.

12.070 Redemption and disposal of discontinued chips and tokens
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman may approve or require.

Unfortunately, even though their regulations allow it, they have always ruled otherwise when somebody appealed to allow a sale of obsolete tournament chips.

 

[tabletalker7]

12.070 Redemption and disposal of discontinued chips and tokens
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman may approve or require.

So what you are saying is my next job should be chairman of the Nevada Gaming Commission?

 

[DZPoker]

So what you are saying is my next job should be chairman of the Nevada Gaming Commission?

I like it...someone willing to step up and take one for the team!

 

[Colquhoun]

Yeah, we need to infiltrate.

 

[allforcharity]

Even that won't work. Aside of requiring the use of a company that is approved and licensed, the NV regulations also require that a regulator actually witness the chips being destroyed.

Of course it won't work. I know it's just a pipe dream.

 

[tabletalker7]

I like it...someone willing to step up and take one for the team!

Yeah, we need to infiltrate.

Well, the kids are grown and gone ....................... the fiance hates snow ...................................... land me the job and we will move.

 

[Colquhoun]

It might be tough to work our way in if it’s run by guys like this:

 

[tabletalker7]

It might be tough to work our way in if it’s run by guys like this:
View attachment 528645

Those guys are easy to deal with. 10% of the original sale goes to them and all they have to do is "not see nothing". They will sit back and make that money doing nothing.

 

[JustDave]

Just curious for folks, what would be the dream. One casino, lets limit it to vegas, is gonna go under and completely declare bankruptcy. Someone sweet talks/bends some elbows/whatever, what's the dream casino that people would want the current chips from?

 

[Beakertwang]

Of course it won't work. I know it's just a pipe dream.

Here comes @BGinGA!