City casino — francs wasted (3,9)
I believe the answer is:
san francisco
'city' is the definition.
(San Francisco is an example)
'casino francs wasted' is the wordplay.
'wasted' indicates anagramming the letters.
'casino'+'francs'='casinofrancs'
'casinofrancs' with letters rearranged gives 'SAN FRANCISCO'.
(Other definitions for san francisco that I've seen before include "hilly city" , "US city renowned for its cable cars" , "Californian city" , "Californian port" , "City of the Golden Gate Bridge" .)