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Originally posted by: Chilcoot
The story of this slot machine is pretty interesting. But the WSJ seemed to miss the most interesting bit, about how MGM legally has to leave this thing on the floor until it pays out. THAT is why it's the last of the 50 that were once there.
MGM would like to yank it and replace it with something more profitable but can't. At least that's how I understand it.
Psst - wanna know a secret? Regardless of the numerous websites that say MGM can't yank the machine, this is incorrect.
NRS 5.110(5)(c) allows for the transfer of a progressive jackpot to another machine. But why would MGM do this? The machine is pulling in 4-5x the play that others are, due to the hype surrounding it. Furthermore, as it doesn't offer TITO and requires handpays for any cash-out, people are more likely to play off their $20 or whatever in credits rather than wait around for a slot attendant to show up and cash them out (and possibly walking out of the casino).
Casinos transfer jackpots all of the time when retiring old machines. In some cases, an old machine is left on the floor for cash management purposes (large accrued jackpot, but doesn't get much play). Although the progressive jackpot is required to be paid out eventually, as long as it's not hit, the cash remains in the cage and is included as part of the minimum bankroll requirements.
In this case, I suspect that this machine is one of the best performers on the floor, and there's no reason to remove it unless maintenance becomes too great of an issue.
