This article is from the San Francisco Examiner (9/6/1947). I believe that by 1949 the card room is no longer at that address, and was likely closed down after this raid.

It will be tough tracking down chips. The vast majority of licensed California card rooms from the 1940s have no known chips associated with them. It's possible that the names of the owners might show up in T. R. King, Mason, or Taylor Company, chip order card sales records. If either Hurley or D'Antonia had children, and you could track them down, they might have inherited some chips as mementos.