"in other words they just put new chips out as they would ordinaly do when changing chips. one table at a time."

Well, not exactly, Gary. See Gene Trimble's post. He's been through it, and he knows! "One table at a time," in a sense, but simultaneously!

The reason that chips change when ownership changes is that the new owners can't assume all of the unknown debt of the previous owners. Any outstanding chip is a debt; a liability. As Becky Behnen found out at the Horseshoe, unless chips are decommissioned, there's no way of telling when someone will walk in with a few thousand dollars worth of chips "purchased" from the previous owners, and want cash for them.

The only way to assure that the new owners don't get hit with hundreds of thousands of dollars of liability they don't anticipate, is to change the chips and "demonetarize" the old chips so they can no longer be redeemed.

Given that, the chips at all tables and in the cage must be changed at the same time. Otherwise, the cage would be cashing chips of both kinds, and that would defeat the purpose.

Michael