Caesars Entertainment announced on Friday that it would no longer allow cash to play. This move was effective immediately. No notice was given to players. A press release from Caesars Entertainment states that the move applies to its Las Vegas poker rooms and those in regional markets. More importantly, it covers World Series of Poker cash games.
Move was not entirely expected
The poker world assumed that Caesars would hold out and not remove cash from its games. Not only did that give Caesars a competitive advantage, but it creates an operational issue at the World Series of Poker.
The high limit cash games notorious for the number of $100 bills in action. Additional staff will be needed to convert cash into chips at all tables. This will require players to change habits and allow for more time to get fully bought into games.
It is thought that this move pertains to compliance with anti money laundering practices suggested by FINCEN. MGM Resorts, Station Casinos, Wynn and Venetian have all changed policy in the past few months to remove cash from games. Caesars becomes the last major player in the tourist and locals market to follow suit.
Venetian also stopped allowing cash to play on May 1. Venetian gave players two weeks of notice before making the change.
Some players have complained about the new policy as it spread among Nevada poker rooms. In the end, players will adjust and the transition will be seamless as long as poker room provides enough chip runners for the demand.
Playing will all chips will also put an end to some security and angle shooting issues that sometimes occur as cash game tables where cash is in play. This includes theft, ratholing, and misrepresenting stack sizes.