Sunday, February 18, 2007

Las Vegas Slot Machines

The payback percentages of the Las Vegas slot machines are lower today than they were in the past few years.

This payback percentages overall have gone down in the past five or so years. This is not because of a deliberate decision by casinos to lower payback percentages, but because of the changing mix of machines on the slot floor.

Low-denomination machines are much more popular today than they were a few years ago and they're taking up more and more space on the slot floor.

Having more low-paying, low-denomination machines shifts the overall payback down, even though the casino is still ordering the same payback percentages for machines in each denomination.

Friday, January 5, 2007

Mardi Gras Slot Machines Arrive

After many months of waiting, slot machines are now available at Mardi Gras Racetrack and Gaming Center in Hallandale Beach.

The new Vegas-style slots follow those added recently at Gulfstream Park Racing and Casino.

Voters approved a measure nearly two years ago to allow residents of Broward and Miami-Dade counties to decide whether they wanted slots at pari-mutuels. Broward approved the measure in March 2005, but it was rejected in Miami-Dade.

The Mardi Gras Racetrack slots are planned as the cornerstone of a redevelopment with a million square feet of retail space, a 320-room hotel and high-end restaurants.

Dan Adkins, with Mardi Gras Casino, said that they have installed 1,147 slot machines. But, due to state law, there is no ATM machine in the casino. There is a shuttle that will take players to the nearest bank ATM.

Education in Florida will be a sure winner from the machines since 50 percent of the revenue goes to education. In the first month that slot machines were added to Gulfstream Park, Florida education received $3.7 million.