A man from Sioux Falls, S.D. who came to Las Vegas to pick up a Rolls Royce this weekend decided to spend some time at his favorite table at Caesars Palace Las Vegas. It was a worthwhile decision.

Caesars Palace Las Vegas, pictured above. Sizable jackpots continue to get paid out at the gaming property. (Image: Caesars Entertainment)

While playing Mississippi Stud Poker on Friday, Ashwin Patel won a $203,609 jackpot, according to Las Vegas TV station KTNV. It was through a mega progressive jackpot. He was playing for about two hours when he hit a royal flush in hearts. [Read more…] about Jackpot: Rolls Royce Buyer Wins $203K During Stop at Caesars Palace

Oklahoma’s Choctaw Casino & Resort – Durant awarded a life-changing $1M to a Texas grandmother over the weekend.

Rosa Guia of Lancaster found it hard to believe she was the lucky winner. [Read more…] about Jackpot: Choctaw Casino Pays Out $1M to Grandma of 12

Another traveler hit a massive jackpot while playing the slots at Harry Reid International Airport on Monday. A player also came up with a big win at the airport last month.

The newest lucky traveler recently won $1,286,324 on a Wheel of Fortune Triple Hot 777 slot game, the airport announced in a tweet on Tuesday. [Read more…] about Jackpots Continue: Harry Reid Airport Player Wins $1.2M on Slot Machine

A mystery player recently won more than $572K on a slot at Las Vegas’s New York-New York Hotel & Casino.

The total jackpot was $572,660.58. The player bet $1.75, IGT revealed on its Twitter account on Saturday.

The win was hit on an IGT Wheel of Fortune Triple Red Hot Sevens Gold Spin slot. [Read more…] about Jackpot: $572K Won on Las Vegas Strip Wheel of Fortune Slot Machine

Lucky players continue to hit payouts at Caesars Palace Las Vegas and at Harry Reid International Airport. Within the last month, slot machines at the two Las Vegas locations paid out several sizable jackpots.

On June 27, a mystery player won more than $1.3M on the IGT Wheel of Fortune Triple Double Emeralds machine, located in Harry Reid’s Terminal 1 Esplanade.

It appears the winner was on their way home when stopping to try their luck on the machine.

That’s one way to end a vacation — as a MILLIONAIRE,” a tweet from Harry Reid airport said.

The total win worked out to $1,330,133.04.

News of the win was first announced on Twitter by Derek Nicoletto, who posted a video of the slot machine after the payout.

‼️CONFIRMED‼️🎉🎰
One lucky player cashed in BIG at LAS — winning $1.3 million dollars playing Wheel of Fortune Triple Double Emeralds in the Terminal 1 Esplanade. 🤑
That’s one way to end a vacation — as a MILLIONAIRE! 💰

Video credit: @dereknicoletto https://t.co/4tLhTQUF3B

— Harry Reid International Airport (@LASairport) June 28, 2023

No other details were provided on the payout.

$1B In Revenue

Over 36 years, the slots at Harry Reid (previously named McCarran International Airport) have generated more than $1 billion in revenue, according to Michael Gaughan’s Airport Slot Concession. The Las Vegas-based firm operates the slots at the busy airport.

In recent years, the airport slots generate about $39.8 million in gross revenue each year. That leads to about $34.4 million in average revenue for the airport.

In total, there are 1,430 slot machines at Harry Reid Airport.

“The slot machines located inside Harry Reid International Airport not only provide Las Vegas visitors … the opportunity to spend a few minutes at one of our slot machines while they wait for their flight, but … the revenue generated also helps lower the operating costs for airlines at the airport and those lower rates trickle down to tourists who plan on visiting Las Vegas,” Patricia Ross, general manager of Michael Gaughan’s Airport Slot Concession, said in a statement last October.

Prior Airport Wins

In March 2022, a traveler from California, identified as “William J.” won $328,655 on a slot at Harry Reid Airport. He was also playing a Wheel of Fortune machine.

On Feb. 25, 2021, a woman identified as “Megan H.” of Flower Mound, Texas, won more than $302,000. She also was playing a Wheel of Fortune slot in the B Concourse. In July 2020, “Kaoru H.,” a woman from Torrance, Calif., played a Wheel of Fortune 4D penny slot, located inside the airport’s C Concourse. After landing, she tested her luck with a $5 spin on the slot and won $873,511.

The largest jackpot believed to have ever been won at the Las Vegas airport was in 2005, when a player won $3,961,585.14.

Only Harry Reid and Reno-Tahoe International Airport provide U.S. travelers the chance to play slots. No other U.S. airports offer this amenity.

Caesars Palace Jackpots

Elsewhere in Las Vegas, Caesars Palace has seen several winners this month.

All three Caesars Palace winners were Caesars Rewards members.

Live! Casino Pittsburgh Win

Across the country, on July 1, Zachary Kuvinka of Monessen, Pa., won $30,878 at Live! Casino Pittsburgh.

The progressive payout was won on a Lock It Link slot machine. No details were provided on the jackpot.

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Rephrased by The Mystic Gambler

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Shares of PlayAGS (NYSE: AGS) are up 30.37% year-to-date, good for one of the better showings among small-cap gaming equities. Some analysts believe the slot machine manufacturer has more upside ahead of it.

In a note to clients earlier this week, B. Riley analyst David Bain reiterated a “buy” rating and $14 price target on the stock, implying shares of the Las Vegas-based company can more than double from today’s close at $6.70. He forecasts another earnings beat by PlayAGS, which reports on reports on Aug. 3, noting the company is likely gaining market share.

We expect 2Q free cash flow results should also provide net leverage reduction transparency to 3.5x or lower by December this year,” noted Bain. “Overall, we believe AGS has visible product and process momentum for slot industry outperformance over the next 12 months while its EV/EBITDA remains well-below peer and historical averages.”

PlayAGS has topped Wall Street’s earnings before interest, taxes, depreciation and amortization (EBITDA) estimates in 12 consecutive quarters.

PlayAGS Catalyst-Rich Story

Sell-side analysts believe PlayAGS started the second quarter on a strong note, and that the company has solid two- to three-month visibility in terms of client purchasing trends. Wall Street expects the firm to notch high single-digit sales growth this year.

“We believe product category expansion, such as AGS’ high denomination offering, is also contributing to market share gains. For both recur and sales, we note improvements in overall process in tandem with product momentum. For instance, AGS now has 25 salesmen versus 13 in 2019,” added Bain.

By some estimates, recurring revenue and domestically installed slots account for about 70% of the PlayAGS business model.

PlayAGS Undervalued, Financial Position Improving

Relative to its peer group, PlayAGS is discounted and that could be a source of appeal for some investors at a time when the company is firming its financial position. Earlier this year, the firm revealed plans to lower leverage to a range of 3.25x to 3.75x, drawing praise from Wall Street.

The second-quarter earnings update could be an opportunity for management to provide insight into the deleveraging efforts. Should that happen and the news is well-received, that could potentially facilitated more upside for the already hot stock.

“We estimate 2Q will show a significant Q/Q inflection to positive free cash flow and believe AGS will again cite CY23E net leverage ending between 3.25x and 3.75x, though the mid- to high end of the net debt guidance range is emerging as conservative, in our view,” concluded Bain.

The post PlayAGS Could Be Potent Play on Slot Machine Boom appeared first on Casino.org.

Rephrased by The Mystic Gambler

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