"I assumed they would not have the equipment sitting for two years"

I am not saying it was sitting for two years.
I am saying it was ready to go when the gaming application was withdrawn. Dealers and other employeres had been hired.

If I remember right the license denial came as a shock to the owners.
I can't remember the details but there was also some sort of agreement that allowed them the use of the WTC name.
Several people were after the chips for quite some time. I do know Mike was lied to about getting all of them.