Lots of casinos file for bankruptcy (Trump has done it several times ... and has come out of bankruptcy without closing) but Atlantic Club was the first A.C. casino to actually go out of business declaring bankruptcy, Revel in all probability will be the second one. Atlantic Club posted a redemption period for their chips which has now expired. Their bankrupt property was not sold to another party, so no one is obligated to honor their chips. With respect to Playboy; there was a special fund set aside by Elsinor to honor their chip redemption in Trenton.