Casino Closures (Maverick Gaming) (1 Viewer)

[ChipChalk88]

You know you’ve got the sickness when you read headlines like this and your first thought is: “Paulsons entering the market?!”: https://www.bloomberg.com/news/arti...maverick-files-bankruptcy-after-restructuring

Few Noob Questions
- Do most casinos sell off chips upon closing? (I’d imagine some just destroy).
- How long after closure might be see them here?
- Anyone know if these casinos’ chips are good?

 

[upNdown]

You know you’ve got the sickness when you read headlines like this and your first thought is: “Paulsons entering the market?!”: https://www.bloomberg.com/news/arti...maverick-files-bankruptcy-after-restructuring

Few Noob Questions
- Do most casinos sell off chips upon closing? (I’d imagine some just destroy).
- How long after closure might be see them here?
- Anyone know if these casinos’ chips are good?

Chipguide is always the first place you look, to see if chips are any good.
I’ve seen some small outfits auction stuff off to the public. But the majority of chips that end up here have been purchased by one of the two or three people who make this their business (buying the whole lot, then reselling.) Though I can remember at least once where a regular PCF member bought out the chips of a Washington card room and resold them here.

 

[JMC9389]

Resounding "meh" unless the secondaries are really nice.

 

[Kam]

Maybe the owner spent too much time on poker TV grandstanding in high stakes vs running his business…

 

[roughrabbit]

I feel like the $1 edge spots are nice and unique, if a nicer rack ever hit the market they'd have potential for sure. Chipguide picture looks awful though so unlikely.

 

[upNdown]

I feel like the $1 edge spots are nice and unique, if a nicer rack ever hit the market they'd have potential for sure. Chipguide picture looks awful though so unlikely.

When inlays are so big that they obscure the glorious edge spots, I rage.

 

[justsomedude]

Isn't this Eric Persson's company?

 

[Gus]

Is there a generally known per-chip price paid for all the chips? $0.10-.25ea?

Also any estimate on total chips? 50,000+?

I'd guess you need a good reputation and some insider relationships to get the introduction to whoever it is that handles disposition of assets when the biz is closing down... likely to be fraught and a bit messy and selling off the assets (chips, but also tables, chairs, etc...)

 

[upNdown]

Get on it, enterprising PCFers! Go get a package deal.

 

[RocAFella1]

@Saoliver

 

[roughrabbit]

dragon tiger is pretty sweet for an oversized and palace has some nice 2-$5

 

[Saoliver]

@Saoliver

Weird. The Lakewood location always seemed busy when I was there. Like 6-8 tables always running. They had to be profitable.

 

[Saoliver]

Weird. The Lakewood location always seemed busy when I was there. Like 6-8 tables always running. They had to be profitable.

Oh wait! This isn’t the poker room. Just table games here. Yeah, that place was slow.

 

[Gus]

The Dragon Tiger chips look great. Can't find any photos online of them being actually used, only the previous chips from the location when it was named Red Dragon.

Presumably the DT chips are in good shape too, only in play for a year.

 

[TonyZur]

I just spent the weekend at a friends house a few blocks from the Dragon Tiger and was wondering the same thing. Decent looking chips only in use for a year. Would love to see these surface somehow.

 

[Gus]

I just spent the weekend at a friends house a few blocks from the Dragon Tiger and was wondering the same thing. Decent looking chips only in use for a year. Would love to see these surface somehow.

I didn’t see in the bankruptcy announcement if it was chapter 7 or 11

One version = we’re kaput, liquidate everything (usually via auction)

The other = we have too much debt, and need time to work with our lenders to find an amicable solution so we can restart our biz and nobody gets fully wiped out

In the second case they probably wouldn’t sell off the chips

 

[LeLe]

interesting, so we might be hearing something from someone about some sales sometime down the line in the future

I not a fan of overinlay but somehow I quite like the Dragon Tiger Casino chips

 

[RocAFella1]

sweet for an oversized and palace has some nice 2-$5

Why does the Palace have a penis on top?

 

[RocAFella1]

Maverick Gaming: "We regret to announce the closure of three of our locations: Dragon Tiger Casino in Mountlake, Palace Casino in Lakewood, and Roman Casino in Seattle. This decision follows the Washington Gaming Commissioners' choice to shut down the centralized surveillance petition, which was intended to support Washington Cardrooms."

 

[ChipEnvy]

I didn’t see in the bankruptcy announcement if it was chapter 7 or 11

One version = we’re kaput, liquidate everything (usually via auction)

The other = we have too much debt, and need time to work with our lenders to find an amicable solution so we can restart our biz and nobody gets fully wiped out

In the second case they probably wouldn’t sell off the chips

Chapter 11.

 

[Gus]

Chapter 11.

Shucks. That's a reorg, not a liquidation. 'shucks' speaking as someone who had a 1/1,000,000 of actually pursuing an acquisition of a pallet of casino-used chips

 

[upNdown]

Shucks. That's a reorg, not a liquidation. 'shucks' speaking as someone who had a 1/1,000,000 of actually pursuing an acquisition of a pallet of casino-used chips

Right. But if you read other articles you see that they’re closing 4 locations. But no idea if we’ll ever get a shot at those chips.

 

[Deucekies]

Right. But if you read other articles you see that they’re closing 4 locations. But no idea if we’ll ever get a shot at those chips.

Those four locations actually closed before the Chapter 11.

Source: I work for the company.

 

[Gus]

Those four locations actually closed before the Chapter 11.

Source: I work for the company.

Any chance the chips might come up for sale? Happy to chat privately if anything could come of it. Thank you

 

[Deucekies]

Any chance the chips might come up for sale? Happy to chat privately if anything could come of it. Thank you

I'm not sure how that works in WA state. I think the chips either have to be destroyed, or maybe can be sold via licensed vendors. Even then I think they have to be notched, but I could be wrong.

 

[bernielomax]

I'm not sure how that works in WA state. I think the chips either have to be destroyed, or maybe can be sold via licensed vendors. Even then I think they have to be notched, but I could be wrong.

@TheChipRoom

 

[soccerdadof3]

Maybe a candidate for a future Black Friday Sale....

 

[upNdown]

I remember for sure, somebody here bought out a cardroom’s chipcos. Pretty sure they were from Washington. Riverside?

 

[BKisback]

Jim at the chiproom has done a few from WA I believe. Freddie's and Chips come to mind.

 

[mike32]

All sorts of Washington chips have been sold out of the Chiproom. It is (or was) a good candidate for us getting a shot at the chips. I have an old set of the Bud Jones Parker’s from Washington, and there was Bremerton Lanes also.