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| No small change at Park Place |
6/24/2001 Park Place signs major deal with IGT for new coin-free slot machines Last week, Park Place Entertainment announced that it had placed an order with IGT for a minimum of 15,000 new coin-free slot machines. Although coin-free machines have been in use for quite a while, Park Place, owner of the Hilton, Caesar's, Grand Casinos, and Bally's casino brands, is the first to place such a large order of EZ-Pay and EZ-Play coin-free slot machines. IGT estimates that this deal alone could double the installed base of the new coin-free slot machines. The coin-free systems allow players to redeem credits in a slot machine via a printed voucher, which can be inserted into another machine or redeemed for cash. The system also allows multiple denominations, making gambling even easier than ever before. Park Place plans to install the machines at eight of its properties in both Las Vegas and Atlantic City, ultimately replacing three-quarters of the existing machines. The new machines will substantially lower operating costs at these casinos. Some analysts estimate that the overhead costs of staffing and maintenance can be cut by as much as 75 percent with the new systems. Although old-timers long for the days of the one-arm bandits and ringing coins, the coin-free slot machines are the way of the future for the casinos of today. |
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