Issue 118
December 16-22, 2002
Volume 3
page 3
 

Slot Operations Work Has Top Value
By Howard Schwartz

Rich Lehman, who’s been in the casino business more than 20 years, has written a book that cannot be more timely, as the gaming industry continues to rely more and more on slot machine revenue and as more players flock to the machines for hopes of the “Big Jackpot” or an occasional bell ringer to keep them in action.

Slot Operations (The Myth and the Math) (188 pages, hardbound, $50) answers questions which have been asked by casino designers and operators for generations - including the all-important factor of proper floor design techniques which equate to making the customer feel confident, secure, happy, which leads to customer loyalty and return business.

One of the six major sections is devoted to the job description and responsibilities of slot department personnel staff. This includes change persons, booth cashier, slot floor person, slot shift manager, technicians, slot repair manager, club manager and supervisor, marketing manager, slot manager, slot director and slot analyst.

Lehman then moves to Policies and Procedures where he covers procedure manuals, which must have details on reporting and withholding whenever jackpots are hit, and this includes Keno, Caribbean Stud and Let It Ride, plus giveaway and drawing prizes. And they all vary slightly because a winner may or may not be a U.S. citizen. The section on Cash Control, Check Cashing (including Traveler’s Check and Cashier’s Checks) is vital; and this includes a list of types of checks that are not to be cashed.

What is the procedure for Overages and Shortages? Also, what about Revenue Accounting and Accountability plus Control of Slot Change Banks; the Slot/Currency Drop/Count and the Slot Coin Drop/Count? The book answers these and questions about Hand Pay Jackpots and Hopper Fills which meet all regulatory reporting requirements (leading to quick guest payouts with a minimum of disruption of play and minimum down time).

Without proper Key Controls, any casino is vulnerable to theft or fraud. Lehman moves next to Machine Lock Policy, proper use of security tape to protect the programmable chip in each machine; what to do about unattended minors; later explaining the all-important and often misunderstood Hold Percentage.

Clearly this is a management must-read, must-have book. I’d be willing to guess that many top management people are still in the dark about this crucial area of revenue generation and many a future promotion or demotion will hang in the balance unless the full picture is understood by those in the $300 or more suits.

Books reviewed here are available from Gambler’s Book Shop, 630 South 11th Street, Las Vegas, NV 89101. You may order using a Master Card, VISA or Discover card (no American Express accepted) by calling 1-800-522-1777 from 9 a.m. to 5 p.m. Pacific time, Monday through Saturday. You may also order via the store’s web site at www.gamblersbook.com anytime, using the credit cards indicated, where you may also view another 1,000 books in 30 other areas of gambling, plus videos and computer software.

As the holidays quickly approach the question a lot of people are asking themselves are "What can I get for my favorite gaming aficionado?" Well, there is a place you can go without hopping on a plane and heading to your favorite gift shop in Las Vegas.

PokerProducts.com - Poker Products is an unique web site that focuses in the Thursday Night poker player. They offer everything and anything relating to poker. One can order playing cards from casinos, poker chips, and even complete poker tables. Check out their "HOT DEALS" page for quick and impressive gift ideas.

Hollywood Park Derby
Hollywood Track & Card Room, Inglewood, CA
January 3-19, 2003

Call 954-924-3200 for more information

$1 Million Slot Tournament
Paris Hotel Casino, Las Vegas, NV
Thru December 2002

Call 800-671-1111 for more information

4th Annual Jack Binion Open
Horseshoe Casino / Gold Strike Casino, Tunica, MS
January 7-31, 2003

Call 800-303-7463 for more information

Diamonds & Dollars Slot Tournament
Argosy Casino and Hotel, Lawrenceburg, IA
December 1-20, 2002
Over $20,000 in cash and diamonds guaranteed
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Call 812-539-8000 for more information

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