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In Nevada, the anti-money laundering statutes are covered under GCB Reg. 6A (and maybe other places as well). Their reporting requirements are similar to banks. Back in the 1970's (or maybe 80's) Joe Slyman & the Royal Hotel-Casino got into trouble regarding these regs.
If you bought any amount of chips, then cashed them later, the casinos WILL honor the chips, though if the $ amount is large enough, they may have to do a money transaction report on you. In certain cases, money must be segregated and the SAME money returned to you to prevent laundering.
The problem with chip cashing comes in if Player A buys the chips then gives them to Player B to cash in. The casino may check on Player B's level of play to see that he's not acting on behalf of someone else. Not a problem for small timers, but if the transaction is $3000 or $10,000 (or is a series of smaller "structured" transactions), it may involve scrutiny.
The Nevada casino industry negotiated with the Feds (Treasury Dept.) to have the regs. they work with instead of the full banking regulations on money laundering, which would be even more cumbersome in a casino environment. Believe me, the casinos don't want to mess with the regs and have the GCB and the Feds on their doorstep. They take this stuff seriously.
If you want to read about these regs, click on the link below & scroll down to Reg 6A (Warning though: it's like reading IRS regs. Guaranteed to make your eyes glaze over!)
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