Ax can be used in two different ways:
1) Ax can refer to the rake collected by management to pay for their business.
2) Ax is used to denote a hand with any ace. The 'x' is used to symbolize any other card.
Example: 1) I hate the idea that my friend is axing our home game, but I guess it's OK since he does supply beer and food.
2) I was playing with an idiot that raised with Ax from anywhere and went all-in if he were to hit the ace, no matter his kicker.