Poker Writer
Poker rooms on the Las Vegas Strip are set to change their policy of accepting chips from other properties starting this week.
Caesar’s Entertainment, MGM Resorts and Wynn Resorts will only cash out poker chips from their own properties, going against the previous arrangement of accepting chips from other properties, according to a report from the Las Vegas Review Journal (LVRJ). This change will take effect on Wednesday and Thursday of this week at the ten Strip casinos with poker rooms: Aria, Bellagio, Caesars Palace, Horseshoe, Mandalay Bay, MGM Grand, Planet Hollywood, Resorts World, Venetian, and Wynn.
This change is an annoying one for many Vegas regulars who play at multiple properties. One regular player, Jason, told PokerScout that it will be frustrating.
I play at both the Venetian and Aria often. Those two places aren’t exactly close, on opposite ends of the strip. So if I need the cash quickly on a night I’m playing at one of them… I don’t know what I’m gonna do now.
Change in Chip Policy Creates Logistical Challenges
It does create logistic situations for players who may want to play at more than one property in the same day or have chips from one place and are forced to detour there before heading to the other casino.
MGM is partial exception in that will still allow chips from other MGM properties to be redeemed at their casinos, but not from other operators.
The reason given for this change is that the previous chip exchange policy created anti-money laundering concerns. Nevada Gaming Control Board chairman Mike Dreitzer told the LVRJ:
We believe this change was a good idea and a great example of our industry actively addressing (anti-money laundering) concerns.
Vegas poker rooms have been flagged for a long time as potential trouble spots for money laundering. That’s largely because of how easily players can exchange chips for cash and vice versa, often with minimal oversight. The elimination of property-to-property chip exchanges will help tighten the monitoring of money movement.
