Midwestern casino operator signs deal for cashless slots

Friday, Feb. 21, 2003 | 11:09 a.m.

Argosy Gaming has signed an agreement to purchase up to 4,000 new "cashless" slot machines from International Game Technology.

The deal also allows for retrofits of up to another 1,000 existing IGT machines over the next two years to change the machines over to ticket voucher technology, the company said.

Cashless machines can dispense paper tickets instead of coins and can also be played by inserting the tickets.

The company aims to only offer cashless machines by the end of 2004, Argosy President Richard Glasier said.

"This new technology offers operations efficiencies for our company, but most importantly it improves customer service."

More than 100,000 slot machines -- more than 10 percent of all domestic machines in operation -- offer ticket payouts, according to Reno-based IGT.

Argosy joins Park Place Entertainment Corp., MGM MIRAGE, Station Casinos Inc., Coast Casinos Inc. and other companies that are making a full-scale switch to ticket machines, the company said.

The Alton, Ill.-based company operates six casinos in the Midwest and southern United States.