Simple enough the actual value is what someone will pay, often based on what someone actually has paid.

One of my most entertaining ways to judge a value for myself is Doug's auctions or someplace else like the club events.

Unlike coins and stamps in the "bad old days" where the dealers set the prices and as far as I was concerned were in collusion with price fixing, the casino hobby started with people who based the values on the market and actual sales. The stamp and coin market collapsed like a Ponzi scheme when the demand fell and the dealers with hoards started to close out inventory.

For 20 years now I've been buying old dealers inventory, using it for postage, for 10 to 20% under face. Plateblocks, go on packages and big letters. I buy coins collections at auction, pick out a few that are better and spend the rest. That's fun.

Obsolete casino chips have no value except supply and demand. If the demand isn't there, the price drops. If people want a chip and bid higher, the price goes up.

There are some chips I'd want, they are priced too high, asking price. They come up over and over on eBay and no one else buys them. Maybe some day, that eBay seller will decide that money in the pocket is worth more than what he thinks they are worth. But to answer the OP question, the price guides are based on market estimates and actual sales.

The way I see it, this is the one hobby where the dealers haven't taken over and the people who started the club have been open with their knowledge, willing to share the enjoyment, without insider deals or false valuations. We can thank the club founders and the TCR original authors.

I'm not saying that some others didn't try to manipulate or profit with new issues, altered chips or LEs. But the whole casino collectibles hobby is more open than anything I've ever seen.

I don't collect for investment, just for what I enjoy. Dealers are business people I expect they need to cover costs and expenses and make some profit or we'd have no dealers. In casino collecting, they are our friends not the enemy.