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twitterDeal boosts cashless machines
Monday, Oct. 21, 2002 | 11:10 a.m.
International Game Technology will sell 7,000 "cashless" slot machines to MGM MIRAGE, the nation's second-largest casino company, a sign the new technology is gaining acceptance, analysts said.
The "EZ Pay" slot machines let gamblers use tickets instead of coins to wager on slot machines, the companies said in a statement.
MGM MIRAGE will install 7,000 machines at nine of its casinos, including the Bellagio, MGM Grand and Treasure Island. The company will also retrofit an undisclosed number of existing machines to offer the technology in a project that will be completed next year. Other casino companies may follow MGM MIRAGE's lead, boosting sales for IGT, analysts said.
"MGM MIRAGE is an industry leader, and the implication may be that other operators will follow in upgrading to cashless," UBS Warburg analyst Robin Farley wrote in a report.
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