Ownership does not change hands until mid-2019.
The 'outgoing' company must deposit with gaming a $$ amount equal to all outstanding chips (or a reasonable proportion if gaming agrees).
The redemption period begins only when the new licence is active and must run for 120 days minimum.
At the end of the 120 days gaming will transfer an amount equivalent to those chips redeemed to the new licensee, and the balance is returned to the outgoing company.

Given that Virgin have indicated they will close the property to remodel for 3-4 months from next summer, I'd guess that will coincide with the redemption period and be done through a different property.