American Buys Casino Chips at Auction to Cash Out $59K
Kate Marshal
10 April 2025
Comment 0
A New Jersey appeals court has denied an American man’s attempt to redeem nearly 400 casino chips from the former Playboy Casino in Atlantic City, USA Today reports.
Keith Hawkins hoped to exchange 389 chips for $59,500. However, the New Jersey Department of Treasury had already ruled against such a payout in 2023. Directly cashing in at the casino was not an option either — the Playboy Casino shut down in 1984.
Before closing, the casino transferred some funds to the state’s unclaimed property division to cover outstanding chip redemptions. Any chips still inside the casino at the time were slated for destruction by a specialized firm.
However, an employee at the firm stole several boxes of chips and stashed them in a bank vault. Years later, financial troubles led to the bank seizing his assets, and in 2022, the stolen Playboy chips surfaced on an online auction. Hawkins saw an opportunity and bought them, betting on a payday.
But upon reviewing his claim, officials determined the chips in his possession had been marked for destruction and were never issued to him through actual gameplay at Playboy. On that basis, his request was denied.
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