Cool Millions slots have been cool to players so far

Bob Shemeligian

Thursday, Sept. 19, 1996 | 11:59 a.m.

The Cool Millions slogan goes "Three bucks, three ducks. Win the first million bucks instantly."

But in the nearly two years since the first Cool Millions $1 progressive slot machines were installed in Mississippi, and later in Nevada, no one has hit the progressive jackpot, which is over $8.5 million in Nevada and $5 million in Mississippi.

This has led some slot cynics to joke that the only cool thing about Cool Millions is the machine itself.

Not so, says Carol Buma, director of marketing for Casino Data Systems, maker of the 443 Cool Millions machines in operation in more than 100 casinos in Las Vegas, Reno, Lake Tahoe and Mississippi.

"It's been hit a couple of times with only one or two coins, and so no one has hit the primary jackpot, because they didn't have the maximum amount of coins in play," Buma said.

Both plays occurred within the last year, one at the Stardust in Las Vegas and another at the Oasis Resort in Mesquite.

The players won $250,000 and $50,000, respectively, "but had they put in all three coins, they would have been millionaires," said Buma, who added that play of Cool Millions dollar slots has increased in recent months, and she wouldn't be surprised if the jackpot hits soon.

"It's random, and the machines are getting a lot of play," she said.

The Cool Millions progressive $1 slot machines were introduced to Mississippi casinos in November 1994 and in Las Vegas casinos in May 1995.

And when a lucky winner -- who is smart enough to put in three coins -- lines up three ducks, he or she will become an instant millionaire.

One of the system's most attractive features is that the first $1 million is paid in cash immediately after the standard 72-hour verification period. The balance is paid in 19 equal annual installments.

The "instant millionaire" feature is one aspect of Cool Millions that CDS Gaming officials think will change the economics of wide-area progressive gaming.

Competitor International Game Technology pays out its Megabucks progressive jackpots over two decades and so it takes a long time before the winner actually becomes a millionaire.

IGT officials note, however, that while the Megabucks jackpot payouts are indeed made over a longer period of time -- at least their machines do hit jackpots.

"I think our own progressive speaks for itself in terms of how often they hit," said Rick Sorensen, spokesman for IGT. "We stand by our own product."

Three Megabucks jackpots have been hit within the last month.

A woman won $11.3 million at the Monte Carlo Aug. 13. On Sept. 7 a woman won $6.3 million at the Ramada Express in Laughlin and four days later a man won $5.1 million at Fitzgerald's in Reno.

As for Cool Millions, Casino Data Systems officials can take heart that their quarter machines do pay jackpots.

In May, a Hawaii woman hit the first Cool Millions Quarters progressive jackpot at the California Hotel.

Mary Wills lined up three Cool Duck symbols to win $277,000, less than a month after a state-wide network of three-reel quarter slot machines was introduced in 22 casinos in the Las Vegas area.