What Has Happened to All the Casino Cash During the Shutdown?

With all the casinos closed, where is all the cash that the casinos had on hand? Do some have their own vaults like we saw in the movie Oceans Eleven? Or does/did some security firm come and take the money to another location? Between all the casinos, it must be an enormous amount of cash.

This is one of several questions we're received from readers wondering (worried?) about the cash in the casinos. Though as you can imagine, the casinos aren't exactly publicizing where it all is.

And yes, it's most likely a lot. No doubt the gaming machines have been emptied of bills, the cage drawers are devoid of cash and coin, and the cash registers at all the point-of-sale venues in the casinos and hotels have been drained.

Even the smallest casinos have vaults in the cages and count rooms, which no doubt hold at least some of it (perhaps with an eye toward fulfilling cash requirements when they finally reopen). The vaults are certainly well-protected, given that everything is locked down and security is ramped up.

Excess cash has probably been deposited in bank accounts from which to pay down ongoing expenses with no cash flowing in from business.

All this is just supposition, but it's based on common sense and cash-handling protocols. What do you guys think?

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Comments

Dave in Seattle. Apr-10-2020

Soft count room

NO. Their cash has been trucked to banks that are more secure.

Dave Apr-10-2020

You can't just put it in the bank

You gotta think of all those dollar bills as inventory, not cash.

As was pointed out a few days ago, the casinos already have enough money in the bank so that they can keep paying their bills for several months of this shutdown.

While putting it in the bank for sake-keeping seems like an obvious choice, you're talking about millions of dollars. Not only is it a PITA process to deposit it, it's an equal PITA to get it back. If you give it to the bank, you gotta wonder what they're gonna do with it, and worry about getting it back when the green light to reopen happens.

Therefore, I'm betting that the only money that went to the bank was the normal daily deposit.

Boogieman888 Apr-10-2020

Beware

The people who submitted this question may be casing the place. Casinos Beware!

Ray Apr-10-2020

Insurance? Lawyers?

My guess would be that in order to be insured in case anything happens to the money, the insurance companies have a say in what they do with the money. Ditto the corporate lawyers. If the Att/Ins say"put it in the bank", they did. If they said "add security at the casino" they did. As they do with the odds in the games they offer, the casinos eliminate as much risk as they can.

Rick Sanchez Apr-10-2020

Safe money

I was selected by MGM and Caesars to be the holder of their money during these hard times. I have it all stashed away in envelopes in my desk drawer for each casino. Now while I can't give you exact amounts due to NDA's I can say that each casino deposited with me between $1 and $1.43.
Now for me to perform this service I am doing it all out of the greatness of my heart at a reduced fee of $37.99/day envelope fee, $49.99/day storage fee, $10/5min parking fee while they made their deposits and $500 sanitizing fee. I did graciously wave the $10 hand shake fee (social distancing) but did have to include a $5 elbow bump fee.
I will have to charge them a $6.99 fee to access their money when they come to get it also.

Jackie Apr-10-2020

Most likely

in Wells Fargo Cash Vault. Quick and easy to deposit.  Quick and easy to withdraw.  Depositing their money in a bank requires the bank to send all operating excesses to a Federal Depository which takes forever to get back.

Birdie Apr-10-2020

Rick Sanchez

L.  O.  L.  !!!!  🤣🤣🤣

Jokare Apr-10-2020

Sanchez

LOL You belong on shark tank.

Jerome Sinkovec Apr-11-2020

Hidden Cash

I am really not supposed to mention this to anybody, but after the Mirage turned off the volcano, they hid most of their cash in there. Don't tell anybody else, it's supposed to be a secret!

Question of the Day - 10 April 2020

Comments