MGM Refuses to Cash Chip

Definitely impacts high limit players re their chip managment.
I just noticed it's a very old article and the policy may have changed by now.
Sorry for the possibly worthless thread.
I got the article from a poster on another site who yesterday said MGM was also refusing to cash his 5k chip


http://lasvegassun.com/news/2007/mar/09/chips-no-longer-good-cash/

It's really sh*tty when/if they refuse to cash out a chip then say the responsibility lies on the player to prove they got it. Although, I don't think that's actually (legally) true, as the the burden of proof is on the casino. Reading through the laws/statutes/whatever-they're-called, although I certainly didn't read through everything in super fine detail, it appeared you merely had to be a PATRON of the casino (ie: gambled there) to cash out a chip....and I don't explicitly remember reading anything saying that the chip had to be given to the player by the casino to cash it.

ie: I could be given a $3,000 in chips from a friend, go to the casino, play a slot machine or table game for a few minutes (to become a "patron"), then the casino would legally be required to cash out the chip.

Not only is my interpretation similar to RS's, but I don't believe you actually have to play anything as the burden of proof to prove you're not a patron is on the casino. If you don't have a players card it's nearly impossible for them to say you've never gambled with them. "Sure I did, about a year ago... and a month ago." Casinos would have to be able to disprove statements like that. Chips are a gambling debt which no casino (at least under Nevada law) has the right to not pay. They must legally pay all gambling debts represented by their chips. Bob N. has a few good shows on GWAE talking about this.

*Same disclaimer: this is all my interpretation from my readings/listening to GWAE/etc.

Old news.

Blame the feds for this, not casinos.

Just read Stealth's post over there. He of most people there should know to NEVER accept one of these chips from someone else, especially if they're playing unrated!

Quote: Ibeatyouraces

Just read Stealth's post over there. He of most people there should know to NEVER accept one of these chips from someone else, especially if they're playing unrated!

Yeah, he's a smart guy. Maybe there were other circumstances where he had to accept that as payment.

Still, why not head to a table, break the chip down, play some $10 craps or something for a bit, then walk off with lower denomination chips?

Quote: Romes

...Still, why not head to a table, break the chip down, play some $10 craps or something for a bit, then walk off with lower denomination chips?

This doesn't always work either. I've heard of even those players being scrutinized. Bottom line is this, rated or not, NEVER accept these things.

Quote: Ibeatyouraces

This doesn't always work either. I've heard of even those players being scrutinized. Bottom line is this, rated or not, NEVER accept these things.

I've got to imagine a high limit room wouldn't scrutinize that much, as to not disrespect the "high rollers" and "whales."

"Where'd I get this chocolate? From my ass... deal the cards."

Quote: Romes

"Where'd I get this chocolate? From my ass... deal the cards."

Might have to try that line sometime!