Poker chip convention opens at the Tropicana

Thursday, July 20, 2000 | 11:18 a.m.

With the spread of gambling nationwide, the collecting of casino chips, gaming tokens and other such memorabilia has grown significantly in recent years.

As a result, the largest crowd ever is expected for the eighth annual Casino Chip and Gaming Token Collectors Club Convention and Show today through Saturday at the Tropicana hotel-casino.

Last year's convention drew more than 2,300 people. Organizers expect to exceed that figure this year for the event to be held in the Tropicana Grand Ballroom, which is 50 percent larger than the 1999 convention hall.

"The interest in casino chip collecting has grown in recent years for a number of reasons -- the spread of gaming is one," said Convention Chairman Wayne Thompson of Lexington, Ky.

"Some people collect just chips from riverboats, others from just Indian reservation casinos and still others collect nothing but chips from illegal casinos nationwide," Thompson said.

Estimates are that more than 10,000 people collect casino chips and less than a quarter of that figure are members of the CCGTCC.

Thompson says that because of the demand, casinos are making chips they know will go straight into collections without ever having been wagered on a green felt table.

"In recent years casinos have taken note of collectors as we are seeing more and more limited edition and commemorative chips," he said. "It costs the casino 75 cents to make a $5 chip. Those that are collected become nothing but profit (because they are seldom redeemed)."

While some vintage casino chips sell for thousands of dollars others can be purchased for a couple of bucks, making the hobby attractive to a wide range of people.

The event kicked off Wednesday at the Strip resort with a session and reception for members only. Public sessions will be 10 a.m.-6 p.m. today, 10 a.m.-5 p.m. Friday and 10 a.m.- 4 p.m. Saturday. The event will feature 109 dealer tables.

Admission is a $2 one-day membership in the club, which for an additional $18 can be upgraded to a $20 annual membership should visitors like what the show has to offer and decide to take up the hobby.

In addition to the trading of chips, tokens and other casino memorabilia, there will be more than a dozen educational exhibits, seminars and a Friday night auction of rare collectables. Also, there will be a poker tournament for club members starting 8:30 p.m. Thursday at the Excalibur hotel-casino.