Tuesday, April 28, 1998 | 9:57 a.m.
Casino Data Systems unveiled its new line of multi-site progressive slot machines, the Xtreme Jackpot series, at a special event at Drink Monday night.
The new machines are similar in appearance to hundreds of stand-alone video slots the company has installed in casinos around Nevada. But they differ in function by making players who risk a maximum bet of $1.25 eligible for a progressive jackpot starting at $500,000.
Casino Data Systems is the first company to create an inter-connected video slot system, said Lauren Coombs, a company spokeswoman.
"This is the first video slot link," Coombs said.
Other progressive or linked slot machines, such as MegaBucks and Cool Millions, use actual spinning reels, as opposed to the video reels used by Casino Data Systems' machines.
The company started installing the machines Monday at casinos statewide, including the Las Vegas Hilton, Santa Fe, Sunset Station and Frontier. Other states that have approved Xtreme Jackpot are Connecticut, Illinois, Iowa, Louisiana, Michigan and Missouri.
According to Coombs, demand for Xtreme Jackpot is outpacing supply.
"We're just launching this product today, and we already have 100-plus games committed," she said.
The Xtreme Jackpot series includes five separately-themed machines, which offer five to nine reels each. There are both nickle and quarter machines.
Progressive jackpots will paid in the form of 20-year annunities, said Jose "Pepe" Charles Sr., Casino Data Systems' senior vice president of marketing and planning. The annuities will be set up with third-party investment companies on an as-needed basis, he said.
Monday's Xtreme Jackpot release was unaffected by Casino Data System's recent restructuring, Charles said. In March, the company announced a $15 million one-time charge to write-off investments in unprofitable subsidiaries and products. In December, the company replaced its chief executive officer after its first unprofitable year ever.
The Xtreme Jackpot series, Charles said, is "part of the overall business plan. ... This product is just one of the things we're doing. There's more in the pipeline."
Also this week, Casino Data Systems is beta-testing a new Windows version of its Oasis slot machine accounting software, Charles said.
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