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Penny slot machines seem to be all the rage in Atlantic City, most likely as a direct result of the economic recession.  Interestingly enough, with an 8 percent increase in revenue from penny slot machines, these low denomination terminals have materialized as yet another way that slot machines manage keep the doors of casinos open.

William Eadington is the director of gambling research at the University of Nevada at Reno.  He conducted a study on casino markets in both Nevada and Atlantic City.

“In tighter budgetary times, people tend to gravitate to places where they can economize,” explained Eadington.

According to Eadington, the allure of penny slot machines is that the low betting denominations give gamblers the perception of control over there money.

“I think what’s happening is, as with the multidenominational machines, penny slots give a lot of choices and latitude to the gambler in terms of rate of play and rate of loss,” continued Eadington.

In 2008, every gambling venue, except Showboat Casino-Hotel increased their number of penny slot machines. According to the New Jersey Casino Control Commission, there are now 7,584 penny slot machines in the state; almost a 20 percent increase over 2007. 

Penny slots of sprung up in Atlantic City almost over night.  As of 2002 there were no penny slot machines to be found in the city, until Tropicana Casino and Resort introduced them that same year.  Tropicana only offered penny slot machines as novelty.  However within only a few years penny slot machines have come to represent 22 percent of the slot machines found in Atlantic City.  There are currently 34,000 slot machines total in Atlantic City.

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