MGM Resorts International and Wynn Resorts have announced they not accept cash at poker tables any longer. Some media outlets are proffering that it might be a move to stop money laundering. Las Vegas Casinos have anti-money laundering projects in place and poker tables are still areas that cash can be used at most venuew. While the casinos are unaware of cash gaming for illegal purposes, they are taking a stand to make a cleaner, safer Las Vegas.
MGM’s Gordon Absher stated the move was made after a regular review of procedures and policies in the poker rooms. Poker is unique in that money can be used at the table without converting to credits or chips.
For practical purposes, no matter the speculation, making poker tables cashless may be a wise move. When playing cash at tables the funds do not need to be audited, so it increases the risk to casinos financially and opens the doors to illegal activities whether it occurs or not. Other casinos may follow suit soon.