billryan
billryan
Joined: Nov 2, 2009
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August 29th, 2021 at 9:10:59 AM permalink
Quote: gamerfreak

I’d be concerned about flooding more than anything



You'd think the casinos would have factored that in. Who is to say the vault is in the basement. After Sandy, my local hospital relocated a lot of stuff and equipment like the emergency generators out of basements.
Thankfully, we have a casino expert who doesn't mind sharing private matters with the world. I'm sure he will fill us in.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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August 29th, 2021 at 9:41:24 AM permalink
New Orleans mayor telling the world that everybody should stay off the streets and stay indoors until tomorrow as 40 mph winds starts to knock out the power. First responders will not be responding until tomorrow. 100+ mph winds expected in New Orleans.
rxwine
rxwine
Joined: Feb 28, 2010
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August 29th, 2021 at 11:59:47 AM permalink
Quote: AlanMendelson

No one brought up banks.

Banks do lock their doors and their vaults with no one inside.

But that incident at Caesars Palace makes me think casinos don't just lock up and leave... unless the Caesars incident was a big error?

During the Covid shutdowns there was still security personnel at the casinos.



When the pandemic first shutdown Vegas casinos, it became apparent that they never installed actual locks on their doors. At least some of them.
Quasimodo? Does that name ring a bell?
Mission146
Mission146
Joined: May 15, 2012
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August 29th, 2021 at 12:07:53 PM permalink
Quote: rxwine

When the pandemic first shutdown Vegas casinos, it became apparent that they never installed actual locks on their doors. At least some of them.



Same thing with some Denny’s, but I can’t remember why some of them closed when they otherwise wouldn’t have. I think it might have been one Christmas, or something.
https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219
darkoz
darkoz
Joined: Dec 22, 2009
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August 29th, 2021 at 12:12:17 PM permalink
In Oceans Eleven, they say the casino has to have as much money in the vault as necessary to cover every possible wager. So on a big fight night they had $150,000,000 in the vault.

On the Oceans Eleven commentary track the director says that's true and then hilariously the screenwriter says, no it's not, he just made that up.

The director was pretty shocked.

The screenwriter says he thought it made sense, wrote it into the script, then researched it and found most of the money is kept in the bank. The casino has only a minimum amount of cash required to cover wagers.

If there was some major windfall they couldn't cover they would just write a check.
For Whom the bus tolls; The bus tolls for thee
DeMango
DeMango
Joined: Feb 2, 2010
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August 29th, 2021 at 2:31:59 PM permalink
Quote: darkoz



If there was some major windfall they couldn't cover they would just write a check.



They just have to cover 18 yo's in a row.
When a rock is thrown into a pack of dogs, the one that yells the loudest is the one who got hit.
billryan
billryan
Joined: Nov 2, 2009
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August 29th, 2021 at 2:44:17 PM permalink
If the casino is going to shut down, they can remove the cash and chips. A few armored trucks would suffice.
AlanMendelson
AlanMendelson
Joined: Oct 5, 2011
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August 29th, 2021 at 4:55:15 PM permalink
The law in Nevada is that there must be cash to cover the chips.

What the NGC found out during the pandemic was that this regulation was not followed and to reopen from the Covid lockdown the casinos had to recertify their cash requirements.

This didnt get much press, but if you look back at the stories about casinos reopening there was mention of it. It was overshadowed by the other plans such as plastic dividers and temperature taking.

But back to the original question: those vaults?

I was watching CNN this morning and the reporter was standing in front of a riverboat casino. No underground vault there, right?

However we aren't talking about a branch bank of the Federal Reserve. For example the branch in LA has billions of dollars in it. As part of my news reporter clearance I promised never to reveal its security or the amount of cash. I'm one of the few who actually had access for shooting video.

I do know a craps table at Caesars could have about 800,000 dollars in chips on it... more if they bring in special chips for a high roller. There are seven tables in the main pit. Then add in the high limit Palace Court casino where they play five thousand or more per position at Baccarat. It's a lot of money.
DRich
DRich
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August 29th, 2021 at 5:03:16 PM permalink
I was part of the opening team for a small casino in Northern Nevada. My boss told me to drive to the private airport terminal and meet a plane that was carrying the bankroll for the casino cage. It was the most casual unassuming thing. I was to meet Joe outside the terminal and he would hand me the bank to bring back to the casino. I see a guy outside smoking so I walk up to him and ask, "Are you Joe?", he responds with "Are you DRich?". We acknowledge and he hands me a large suitcase. I drive for 45 minutes to the casino and then we count the money. It matches the paperwork and we load the vault and the cage. About two hours later we open the casino.

It was strange to be handed that much money without any real protocol or count. He got back in the jet and flew home while I drove to the casino.
Order from chaos
AlanMendelson
AlanMendelson
Joined: Oct 5, 2011
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August 29th, 2021 at 5:21:07 PM permalink
I just reviewed the Gaming regulations in Nevada. There are references to US Treasuries for covering cash requirements for various activities.

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