Casinos can cancel or not honor certain chips as long as they meet all their obligations to the various gaming boards that regulate and oversea their operation regulations. For instance, several casinos in Laughlin, NV issued LE chips in the 90s for the annual "River Run Celebration." Now, most of those chips have been taken out of circulation by the casinos and made obsolete and non-cashable by simply announcing and posting notices that the chips will no longer be accepted after a certain date. Regulators require they post these signs in prominent locations around their cage area. Other casinos in states different from Nevada require the casinos to publish a legal notice in general circulation newspapers telling patrons that the chips will become obsolete. Here's an example: When the Golden Nugget in Laughlin changed ownership, the new owners gradually removed the LE chips, and then notified their customers that the chips would become obsolete. At the Red Garter in Wendover, NV the new owners changed their chips to a different design, and the casino issued a transitional hot-stamp chip. I was there the day the gaming officials came and oversaw the destruction of all the old chips. And, saw the old chips being shredded with a large machine as the casino dumped racks of chips into the jaws of the machine. Then they issued the new temporary chips -- however, they are still playing with the temp chips and have not re-issued the new ones. While on a Carnival Cruise Line ship two weeks ago, I learned that a $5 LE chips featuring the Wheel Of Fortune promotion has been pulled from all ships and destroyed. Casino manager said they ended their promotion and left it at that. There was no notice posted on those chips, but ships at sea are not under the same laws that govern land-based casinos. Hope this helps.