500 Club Card Room Shut in California

The Bureau of Gambling Control (BGC) has temporarily shut down the 500 Club card room located in Clovis, California, after apparently discovering that it did not have enough funds to cover all the chips used at the 12-table poker room. News of the development was picked up by the Fresno Bee, with the newspaper stating that an order from the Attorney General’s Office “disclosed that the 500 Club lacked sufficient records to document its chips-in-use liability.”
According to the report, the BGC had repeatedly requested financial documents related to the available funds to no avail, leading to the club being raided this week. Furthermore, it is alleged that there exists a “substantial” difference between the club’s chips in use and its available funds, resulting in a clear violation of the state’s gaming regulations.
The raid subsequently took place at around 2 p.m on Wednesday, with agents from the Bureau of Gambling Control unexpectedly showing up at the venue, and serving a temporary closure order to its management. As well as its card tables, the establishment’s restaurant and bar area were also closed, and a sign reading “TEMPORARILY CLOSED” placed on the club’s outside doors.
Nevertheless, the 500 Club card room has vehemently denied the claim, and has stated that between the cash kept at the cage, the venue’s money vault, and the business’ bank accounts, it has “more than enough” funds to cover the available chips. In addition, the card room has stated that it holds a further $800,000 in bonds, and according to Dusten Perry, the 500 Club’s general manager, the latest incident was caused by an “inaccurate interpretation of their [BGC’s] own regulations with respect to the casino’s chip bond.”
In the meantime, the 500 Club’s license has not been cancelled, and the card room’s lawyer has said that he is currently working with the BGC to have the club reopened as quickly as possible.