Venetian Printing Money with Metallica Casino Chips—for Itself and Resellers
The Venetian Resort has begun circulating special-edition Metallica casino chips in $25 and $100 denominations, giving fans a tangible souvenir that also serves as legitimate casino currency while creating a sneaky profit center for the property. The Venetian and The Palazzo treat the chips as stan…
The Venetian Resort has begun circulating special-edition Metallica casino chips in $25 and $100 denominations, giving fans a tangible souvenir that also serves as legitimate casino currency while creating a sneaky profit center for the property. This set of two Metallica casino chips, (face value: $125) sold on eBay for $349.99 on Oct. 19. (Image: eBay) The Venetian and The Palazzo treat the chips as standard house chips. Guests can use them at table games such as blackjack and craps or redeem them for face value at the casino cage. The chips can be redeemed under the casino’s current rules. Nevada regulations also require approved redemption arrangements if a casino later discontinues the chips or ceases operating. Fans can obtain the chips at blackjack and craps tables, including some high-limit areas, by exchanging cash or regular chips. They are also available at the casino cage with no gambling required.The promotion celebrates the band’s “Life Burns Faster” residency, which opened at the adjacent Sphere on Oct. 1 and runs through March 13, 2027. The Venetian also hosts the Life Burns Faster Experience, a pop-up shop and fan hub in the Summit Showroom near the pedestrian bridge to Sphere. Master of Profits When casino chips leave circulation and are never cashed in, the unredeemed value is known in the gaming industry as “breakage.” This can represent pure profit for the casino, though the exact amount and accounting treatment depend on how many actually leave circulation and how the property handles the liability.Even low-denomination collectible chips are unlikely ever to be redeemed for debts owed to players by casinos. But the Venetian’s choice to issue only higher-denomination Metallica chips increases the likelihood that fans will keep them as collectibles and never redeem them. They’re also proving lucrative for resellers. A perusal of the completed listings shows $100 chips having recently fetched between $200 and $280, and $25 chips selling for $80-$90, excluding tax and shipping. Long History of Collectible Chips This $100 1946 Flamingo “Bugsy chip” is the holy grail for casino chip collectors. (Image: historical.ha.com) Metallica previously appeared on a series of commemorative casino chips issued by the former Hard Rock Hotel Las Vegas, alongside Sammy Hagar, The Cure, Tom Petty, and others. Some of the scarcer limited-edition examples, particularly those with low production runs or autograph provenance, can sell for hundreds or even thousands of dollars on the secondary market.Other celebrity-themed casino chips, including Rat Pack and Sinatra-related issues from the Sands, are also sought after by collectors. But none are as valuable as the rare number of surviving original $100 chips from the Flamingo’s first year of operation. Often referred to by collectors as “Bugsy chips,” approximately 20 specimens are believed to exist—at least two of which reportedly changed hands in the last five years for $20,000 or higher. The post Venetian Printing Money with Metallica Casino Chips—for Itself and Resellers appeared first on Casino.org.