Russia Bans Gambling as Mega-Casinos Crap Out

Slot machine was faulty, Colorado casino insists

(NEWSER) - A customer at a Colorado casino was offered a free breakfast and $23 in lieu of the $42.9 million jackpot she won at a penny slot machine. Gaming authorities and officials at Fortune Valley Casino say the machine malfunctioned and that its top payout is only $251,000, but winner Louise Chavez says she's owed the full amount named on the machine. More»

(NEWSER) - Casinos are making big bank off the tiniest—and oft-most derided—denomination, USA Today reports. Gambling outfits have added penny slots at an amazing rate—in the last 2 years, Nevada has removed 12,000 more costly machines to make room for 7,000 penny slots—and the move has paid off. In Missouri, for example, penny bets make up 42% of the total and a whopping 63% of casino profits. More»

(NEWSER) - Penny-pinching gamblers are flocking to casinos for a cheaper bet these days: penny slots. The machines enable them to play longer with the same amount of cash, and, thanks to modern paper payouts, no longer burden them with noisy bucket-loads of coins. Casinos don't mind the games, either. "Their house edge is bigger" on them, one slots expert told the AP. More»

Marketing gamble by casinos is coming back to haunt them

(NEWSER) - Las Vegas has enthusiastically promoted itself to travelers interested in pastimes other than gambling in recent years, but now that economic woes are tightening leisure budgets, Sin City is taking a hit, reports Advertising Age. With visitor volume and gaming revenue down, casinos are scrambling to respond. One has a less-than-subtle new slogan: "Shut up & play." More»

Casinos make play for the young and active

(NEWSER) - After years of catering to the little old lady crowd, slot machine manufacturers are reaching out to the video game generation with a line of skill-based games, the New York Times reports. “We need to appeal to new buckets of players, or we’ll die,” said one slot exec. New machines will sport joysticks, multiplayer modes, and advanced graphics. More»