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The Chip Board Archive 02

Re: Newbie Question on LEs

David: Any recall of LE's would have to go through me at this time. Currently, as Gene said, we have never recalled any LE chips, and there are no current plans in the near future. From time to time we will destroy chips that become mutilated or were over ordered and there is just no interest...but don't worry, even just destruction with still honoring the chips requires NGCB approval. A recall of LE's also requires NGC approval and a reasonable length of time for redemption.

This is why I am so adamant about adhering to the Regulation, ensuring that our chips hit the gaming tables, and that the exchange, either chip purchase or chip redemption, takes place on our premises. There is nothing that prohibits the "sale" of chips, but selling chips was never the intent of gaming allowing the minting of them. The intent, was likely internal control related-- represenations of value as opposed to actual cash--because chips can be easily identified by denomination from a surveillance video, as where cash takes a little more work.

The chip collecting community as a whole should be aware that Gaming, while apparently supporting and allowing LE's defacto through their approvals, does have the authority to amend, alter, or promulgate new regulations that could basically shut down the printing of LE's and other special chips.

Not likely unless it becomes a huge problem and they feel (my opinion, not speaking for Gaming) that the patron's are not getting a fair deal or that the program reflects or tends to reflect badly on the state of Nevada or the Gaming Industry as a whole.

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Re: Newbie Question on LEs

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