Man in New Jersey Rejected from Exchanging Archaic Casino Tokens Worth $60,000
Recently Unearthed Playboy Hotel Casino Poker Chips Worth $60,000 Turned Down
Have you ever stumbled upon a blast from the past, knowing it could potentially change your life—only to be left high and dry? Well, that's exactly what happened to an unidentified New Jersey resident who dared to cash in on some old poker chips from the defunct Playboy Hotel and Casino in Atlantic City.
The man, apparently a speakeasy-style gambler at heart, purchased the chips in a 2022 online auction without a second thought. Little did he know, these chips weren't the product of hard-earned poker games but rather the fruit of a former employee's dirty dealing back in 1990.
In the roaring 80s, the Playboy Hotel and Casino was the place to be in Atlantic City. However, by 1984, the shift in fortunes left the property defunct. After closing, a company named Green Duck Corp. from Hernando, Mississippi, was hired to destroy all remaining unissued poker chips. But, like a skilled card sharp slipping an ace up his sleeve, one former employee allegedly made off with several boxes of chips.
Fast forward nearly 30 years, and the employee, now bankrupt, had long forgotten about his hidden treasure. The greedy bank, upon discovering the stash during the bankruptcy proceedings, confiscated the chips and later sent them to an auction house, where New Jersey resident Keith Hawkins scooped them up for an undisclosed price.
Now, if you're thinking that casinos would bend over backward to get their money back, think again. The New Jersey State Treasury Department's Unclaimed Property Administration promptly dismissed the man's claim for the chips' $59,000 worth. Despite similar cases where old chips have been cashed in, the immense passage of time—over 40 years—proved a deal-breaker in this case.
Life, it seems, has a cruel sense of irony. For Hawkins, what could have been a pleasant, quick influx of cash after buying the chips, ended up being just a historical memento of the Playboy Hotel and Casino. It's a gamble he may live to regret.
Insights:- The chips were initially stolen by a former casino employee in 1990.- The bank confiscated the chips after the employee declared bankruptcy in 2010.- The auction house acquired the chips from the bank after a confiscation and subsequent sale.
- The alleged theft of the valuable Playboy Hotel and Casino poker chips dates back to 1990, stolen by a former employee who later faced bankruptcy in 2010.
- The confiscated chips, worth $59,000, were eventually sent to an auction house, which is where New Jersey resident Keith Hawkins bought them in 2022.
- The New Jersey State Treasury Department's Unclaimed Property Administration refused to honor the man's claim for the chips' worth, citing the immense passage of time, over 40 years, as a reason.
- Despite similar cases where old chips have been cashed in, this instance was unique due to the significant gap between the time the chips were stolen and the claim was made.
- The unidentified New Jersey resident, who had purchased the chips without a second thought, was left disappointed and potentially out of a substantial payday.
- The story serves as a reminder of the gambling trends that have ebbed and flowed since the roaring 80s when the Playboy Hotel and Casino was a hotspot in Atlantic City—a testament to the enduring allure of casino-and-gambling culture.
- In the face of the growing sports-betting industry and the resurgence of casino-games and lotteries, the case of the confiscated Playboy chips highlights the importance of responsible-gambling practices and the potential pitfalls one can encounter when blindly pursuing big-wins.
- From questioning the ethics of casino personalities like the alleged chip thief to pondering the role of sports in contemporary society, this incident raises broader discussions about the moral and social implications of gambling, both in Las Vegas and beyond.
