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APNewsBreak: AC casinos to keep some slot jackpots - Wall Street Journal

Tuesday, 05 April 2011 10:47 administrator
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Associated Press

ATLANTIC CITY, N.J. — A new rule lets Atlantic City's casinos terminate some multi-machine slot jackpots and keep money that would have been used to pay the jackpots.

The casinos would have to give the public 30 days' notice; if no one wins by then, the casino can remove those machines and cancel the

accrued jackpot. The old regulations required them to transfer the jackpot to a different progressive, or multi-machine system.

The change applies only to progressive slots within a single casino. Progressive jackpots linked among several casinos would not be affected.

Regulators say the change allows casinos to more quickly get rid of underperforming slot brands and replace them with others.

The changes also permit the casinos to increase the odds of winning progressive jackpots from the current 50 million-to-1 to 100 million-to-1.

—Copyright 2011 Associated Press

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG0YNj4uscO5BmYpWNFo8oRQWXXcQ&url=http://online.wsj.com/article/AP613256e514834ef58eca25c63966bd63.html

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