News From The Casino Scene

Officials Shut 500 Club Casino In A Raid Due To Insufficient Funds

Officials Shut 500 Club Casino In A Raid, Due To Insufficient Funds

The state officials in California have shut down a 12 table poker room at the 500 Club Casino in Central Casino due to insufficient funds after a raid on Wednesday.

According to the Attorney General’s office, the owners of the card room didn’t have sufficient cash to cover for the number of poker chips in circulation. Further investigations suggested that the casino also lacked the adequate records to file its chips in use liability.

The difference is described as “substantial” by the state.

The regulators in the state have further claimed Clovis card room of not providing the requested documents in regards to the funds available. Currently, an Audit is ongoing.

The club is, however, denying the charges against it of violating gaming regulations. According to the club, it has sufficient funds to cover all the chips in circulation, be it the cash held in the cage, it’s bank accounts or the card room’s vault. They further informed of having $800,000 in bonds and plans to reopen in the next couple of days.

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