I received an invitation to Red Rock offering a Macy's gift card. The
invite states gift card my be exchanged for Red Rock promotional chips.
I don't play table games - does anyone know if I can just take these
promotional chips to the cashier and exchange for money. Or do they
have to be played at tables? Thanks for any help with this.
Red Rock Promotional Chips
Along the same lines, I received an offer from Red Rock that includes a
choice between $100 in free slot play or $100 in promotional chips. I'm
curious as to which is the better choice.
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From: wpbacker <wpbacker@gmail.com>
Reply-To: <vpFREE@yahoogroups.com>
Date: Fri, 11 Jul 2008 22:38:27 -0000
To: <vpFREE@yahoogroups.com>
Subject: [vpFREE] Red Rock Promotional Chips
I received an invitation to Red Rock offering a Macy's gift card. The
invite states gift card my be exchanged for Red Rock promotional chips.
I don't play table games - does anyone know if I can just take these
promotional chips to the cashier and exchange for money. Or do they
have to be played at tables? Thanks for any help with this.
I received an invitation to Red Rock offering a Macy's gift card. The
invite states gift card my be exchanged for Red Rock promotional
chips.
I don't play table games - does anyone know if I can just take these
promotional chips to the cashier and exchange for money. Or do they
have to be played at tables?
ALL promo chips I've seen must be 'washed' at the tables for real
chips. They are non negotiable and have no cash value.
The more important question is if these chips play til they lose or if
they are taken after the initial wager (win or lose). If they play
until they lose they're worth their face value minus the inherent
negative EV of the table game you're playing. If they're taken, win or
lose, then the value is only about 50% of their face.
I was at a drawing at Grand Tunica earlier this year. Winner gets a
$90K 911 Porsche or option of freeplay/promo chips for close to the
MSRP of the car. Promo chips at Grand Tunica are taken win or lose.
Guess what he took? Yep, promo chips. This genius cost himself about
$40.
···
--- In vpFREE@yahoogroups.com, "wpbacker" <wpbacker@...> wrote:
I was at a drawing at Grand Tunica earlier this year. Winner gets a
$90K 911 Porsche or option of freeplay/promo chips for close to the
MSRP of the car. Promo chips at Grand Tunica are taken win or lose.
Guess what he took? Yep, promo chips. This genius cost himself
about
$40.
Add a "K" after $40. $40K. Oops. 
···
--- In vpFREE@yahoogroups.com, "hockeystl" <vegasstl@...> wrote:
But what would his tax burden have been if he took the Porsche? Maybe he didn't want to pay taxes on the car, and didn't have to pay taxes on the promo chips since they have no real "value".
At least I'm hoping there was some reason like that, otherwise he really was a genius (not).
Valerie
[Non-text portions of this message have been removed]
But what would his tax burden have been if he took the Porsche?
Maybe he didn't want to pay taxes on the car, and didn't have to pay
taxes on the promo chips since they have no real "value".
At least I'm hoping there was some reason like that, otherwise he
really was a genius (not).
Valerie
I failed to mention there was a freeplay option of the same amount of
the promo chips. Thus the winner could've turned the FP into ~99.5% of
the face value when running it off on Jacks. FP is treated the same as
promo chips as it relates to a tax burden.
···
--- In vpFREE@yahoogroups.com, "Valerie Pollard" <vpollard@...> wrote: