It seems that when a casino changed owners, then a new rack of chips would follow, even if the name of the casino didn't change. The standard explanation was that the new owners didn't want to assume liability for cashing outstanding chips in circulation. (Of course a name change requires new chips eventually.)

Lately, it seems that a number of Nevada casinos have changed hands without changing the rack of chips. Examples:
1. MGM Grand buys Mirage Corp. properties (The Mirage, Treasure Island, Bellagio, Golden Nuggets). No change in chips that I'm aware of -- except maybe a high-denom. Treasure Island? (Most of the Mirage management stayed on board with MGM Mirage, so maybe they had confidence in the chip counts, etc.)
2. Fiesta (Rancho) sold to Stations Casinos. No chip change.
3. Lady Luck bought by Isle of Capri. No chip change, except a new $1 introduced recently.
4. Fitzgeralds-LV bought by Don Barden. No chip change so far.
5. Stratosphere & Arizona Charlie's acquired by Carl Ichan.
6. Harvey's (Tahoe & elsewhere) acquired by Harrah's.
7. Caesars - even though more recent "chariot logo" chips have been introduced, it's my understanding that all previous issues are still cashable. Caesars has gone through several ownership changes in the past decade, from Caesars World, to ITT Corp, to Starwood, and now Park Place Entertainment.

How come no chip changes? Is the recordkeeping on #'s of chips produced more trustworthy these days (so the liability of $$ of chips outstanding can be determined and transferred to the new owner? Is the cost of a new rack greater than the potential liability for outstanding chips? In the case of casinos with quite a few LE's and other chips that have walked (e.g. Fiesta), is the outstanding float for chips in collector's hands greater than the potential redemption cost if a 120 day notice is posted & lots of chips get turned in? Or am I missing something entirely???

Just musing about all this.