New Jersey man can’t money gaming chips from defunct on line casino: Ruling

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A New Jersey man who thought he hit the jackpot by making an attempt to money in 1000’s of {dollars} of gaming chips from a now-defunct on line casino was instructed by a state appellate courtroom that his jackpot will not come in spite of everything.

Based on a ruling from the New Jersey Appellate Division, Keith Hawkins was making an attempt to money 389 gaming chips, with a price of greater than $59,000, that he had purchased on-line. The chips got here from the Playboy Resort and On line casino, which used to function in Atlantic Metropolis between 1981 and 1984.

After shopping for the chips in 2022 at an internet public sale, Hawkins tried to money them out on the New Jersey State Treasury Division’s Unclaimed Property Administration in 2023. Nonetheless, each the administration and the appellate courtroom stated the chips couldn’t be redeemed.

“We’re glad that the proof within the file helps UPA’s conclusion that the chips offered by claimant have been ‘unissued Playboy gaming chips that have been to be destroyed’ and, subsequently, ‘ineligible for redemption,'” the ruling stated.

A narrative greater than 4 a long time outdated

The story behind Hawins’ chips is yet one more than 40 years within the making.

Based on the ruling, when the Playboy On line casino closed its doorways in 1984, it transferred its funds to the unclaimed property administration to “cowl the redemption worth of excellent chips the On line casino had issued to patrons whereas in operation.”

When Hawkins got here ahead to attempt to redeem his chips in 2023, the New Jersey State Police have been known as to analyze. Officers discovered that an organization was employed to destroy any chips that weren’t issued.

A former worker of the corporate, whose identify was redacted, instructed the state police that he had “pilfered a number of bins of unused chips ‘someday round 1990’ and put them in a financial institution deposit field,” the ruling stated.

The identical individual stated he declared chapter years later and forgot in regards to the financial institution deposit field. Then, in 2010, the financial institution the place the chips have been saved confiscated the chips after opening the deposit field.

In 2022, the chips have been despatched to the public sale home, the place Hawkins ultimately purchased them.

Fernando Cervantes Jr. is a trending information reporter for USA TODAY. Attain him at fernando.cervantes@gannett.com and comply with him on X @fern_cerv_.

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