Old slot machines are to be replaced by the ones that use paper tickets. The President Casino Admiral said Monday, August 7, that they had completed the $5 million project on the new machines that will spur revenue at the troubled casino.
The paper ticket project took two years for completion. The project also includes reducing the slots from 1,500 to 752.
Chris Strobbe, vice president and general manager of the casino said 300-400 machines would be added once a pending sale of the casino is finalized, this he would not be surprised if it happened at all.
President Casinos Inc. has been a troubled casino since 2002; it is in operation under bankruptcy protection. They have thought of selling the downtown casino to pay off the debts.
Among the casinos in the area, The President was the last to convert its slots to ticket in/ticket out slot machines. The President’s $79.5 million annual revenue, 88 percent of this coming from the slot machines. The conversion of the slots should boost profitability since the coin less machines require less maintenance than the one with coins.
Strobbe said, their main goal with the ticket slots is for the customers to spend less time fiddling with coins and spend more time in gambling. An estimate of $150 to $200 tickets will be spent with an average of 2.5 hours of play per visit.