CA Poker Room Shut Down For Allegedly Not Having Enough Cash To Cover Chips In Circulation500 Club Casino In Clovis Closed Indefinitely By State |
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The 12-table poker room at 500 Club Casino in Central California was shut down by state officials in a Wednesday raid.
The California Attorney General’s Office accused the card room’s owners of not having enough cash to cover the amount of poker chips in circulation, according to a report from the Fresno Bee. The investigation “also disclosed that the 500 Club lacked sufficient records to document its chips-in-use liability,” said an order from the AG’s Office.
The state described the difference as “substantial.”
Golden State gaming regulators also claim that the Clovis card room “repeatedly failed to provide the requested documents” pertaining to its available funds. An audit is now ongoing.
The club reportedly is disputing the allegations that it is in violation of gaming regulations, saying that it has “more than enough” money to cover the chips between the cash held at the cage, the card room’s vault and its bank accounts. The card room also said it has $800,000 in bonds.
It’s aiming to reopen in the next couple of days, according to the report.
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