Playboy Casino Chip Redemptions No Longer Allowed in NJ... 40 Years After Casino Shuts Down
David Rebuck, director of the New Jersey Division of Gaming Enforcement, issued an emergency order on Friday July, 7, 2023, putting an immediate end to the checks from the Playboy Casino.
That casino has not been in operation for nearly 40 years now. Nevertheless, the checks and chip redemption appears to continue.
Rebuck, in his letter, said the emergency action was necessary to preserve “public peace, health, safety, morals, good order and general welfare.”
“I am issuing this emergency order to prevent fraudulent claims on the chip redemption fund, which was intended only to compensate Playboy customers and was not intended for redemptions by chips subsequently acquired by other persons. Such fund was also not intended as a means to redeem chips that were supposed to have been destroyed but were not.”
Until recently, the New Jersey state Department of the Treasury has overseen the fund responsible for honoring the casino chips.
Rebuck says that players have had more than enough time to redeem them.
“At this time, any such chips are most likely to have been obtained by gift, inheritance or sale from the secondary market. The fund held by (the state) Treasury was meant for the benefit of the original patrons who have winnings to claim. It was never intended to be an open-ended invitation for subsequent acquirers of such chips to cash them in.”
Former US President Donald Trump bought the short-lived Playboy Casino in 1989 and rebranded it as the Trump Regency. Today the building remains standing but is vacant and pretty much falling apart.
- Jagajeet Chiba, Gambling911.com
