Casinos Discontinue Shared Poker Chip Cash Transactions across Properties

Casinos Discontinue Shared Poker Chip Cash Transactions across Properties

In a significant move aimed at strengthening anti-money laundering (AML) compliance and tightening control over the movement of funds within casino operations, major operators on the Las Vegas Strip have announced that they will stop honoring competitors' poker chips starting July 17, 2025.

Casinos such as Caesars Entertainment, MGM Resorts International, Wynn Resorts, and Venetian/Palazzo have confirmed the policy change, which means that poker chips won at one casino will no longer be redeemable at another. This ends any prior arrangements to accept chips won at rival casinos.

The decision to change the policy was driven by the casinos themselves and is seen as a measure to improve regulatory oversight of funds and winnings. Industry speculation and hints from Nevada gaming officials suggest that the policy is a result of regulatory recommendations or guidance aimed at better controlling chip redemption practices and reducing vulnerabilities in financial tracking within casino operations.

Notices have been posted in casinos advising poker players to redeem their chips before leaving a property, as after July 17, poker chips won at one casino will not be cashable at another. The policy change does not apply to chips from table games.

The Venetian and Palazzo, with the largest poker room on the Strip, will stop exchanging chips based on poker play from other casinos starting on July 17. Wynn and Encore, sister properties, will also implement the same policy.

Mike Dreitzer, chairman of the Nevada Gaming Control Board, supports the policy change and considers it a great example of the industry actively addressing AML concerns. The Nevada Gaming Control Board believes the decision was a good idea and an example of the industry addressing AML concerns.

The policy change at Caesars Resort Las Vegas is another measure in their commitment to comply with AML regulations. MGM Resorts, which operates four poker rooms on the Strip, confirmed the update on Monday.

With eleven poker rooms operating on the Strip, located inside Aria, Bellagio, Caesars Palace, Horseshoe, Mandalay Bay, MGM Grand, Planet Hollywood, Resorts World, Sahara, Venetian, and Wynn, this industry-wide policy change will simplify the cash out process for each property and minimize risks associated with cross-property chip redemption.

1. The policy change in casino operations, effective July 17, 2025, will prevent poker chips won at one casino within the Las Vegas Strip from being redeemable at another, including casinos like Caesars Entertainment, MGM Resorts International, Wynn Resorts, Venetian/Palazzo, and others.
2. The Venetian and Palazzo, with the largest poker room on the Strip, will no longer exchange chips based on poker play from other casinos starting on July 17, followed by Wynn and Encore implementing the same policy.
3. The Nevada Gaming Control Board, led by Mike Dreitzer, supports this policy change as a proactive measure to address anti-money laundering (AML) concerns, considering it an example of the industry taking necessary steps to comply with AML regulations.
4. The policy change aims to simplify the cash out process for each property and minimize risks associated with cross-property chip redemption, making it a part of the ongoing casino-culture and gambling-trends in Las Vegas.

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