Some think, like I do, that obsolete means that you can no longer get the chip from the casino. Using that logic, all Horseshoe chips are currently OBSOLETE. However, there is a possibility that the casino could later re-open and if they use the same chips, the chips would be current and no longer obsolete.

Others are of the opinion that obsolete means that you can no longer cash in the chips at the casino. Since the casino is in bankruptcy, it may not be possible to redeem the chips and they are obsolete. But we do not yet have a final determination. The reason I don't like this definition is that Atlantic City chips can never be obsolete. Chips can always be redeemed, even if the casino has closed.