Las Vegas Strip Casinos End Cross-Property Poker Chip Redemption
Major Casinos Cease Accepting Rival Poker Chips
Players at Las Vegas Strip casinos will soon encounter a significant change regarding how they redeem their poker chips. Several leading casino operators are discontinuing the long-standing practice of accepting poker chips issued by competitors, requiring players to cash in only at the casino where the chips were won.
Casinos Implementing the New Policy
Starting Thursday, July 17, Caesars Entertainment and MGM Resorts International will only redeem poker chips from their own establishments. This shift was confirmed by representatives of MGM Resorts, which manages four poker rooms on the Strip. Wynn and Encore properties will adopt a similar policy.
The Venetian and Palazzo, which boasts the largest poker room on the Strip, initiated this policy change a day earlier, on Wednesday. According to a spokesperson, these casinos will no longer exchange poker chips earned from other casinos as part of efforts to strengthen compliance with anti-money laundering regulations.
Effective the same date, Caesars Palace and other properties under Caesars Entertainment will accept only their branded poker chips at their cashier cages. Notices posted in their casinos advise patrons to redeem poker chips before departing, as chips from other casinos will no longer be accepted.
Players can still redeem chips from one MGM-operated casino at any other MGM property, providing some internal flexibility within the same operator.
Rationale Behind the Policy Change
Nevada gaming regulators indicate that this change is driven by the casino operators themselves. Mike Dreitzer, chairman of the Nevada Gaming Control Board, praised the move as a proactive step addressing anti-money laundering challenges.
Poker rooms have traditionally posed difficulties for tracking money flows due to the ease with which players can convert chips to cash and vice versa, often circumventing typical oversight mechanisms. This new policy is limited to poker chips only and does not affect chips used in table games.
Currently, eleven poker rooms are active on the Strip across properties such as Aria, Bellagio, Caesars Palace, Horseshoe, Mandalay Bay, MGM Grand, Planet Hollywood, Resorts World, Sahara, Venetian, and Wynn.