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It's 1963. Beatlemania will rock into life, Martin Luther King will be arrested fighting for civil rights, the Vietnam war will grind to gridlock and a president will die.
Bally Gaming was a big player in the 1960s. It was bought by investors in 1963 and developed the first electromechanical slot machine called the Money Honey. The three reel machine was fully automatic and had an electric hopper.
Bally dominated the slots market in the 1960s with 90% share of all slots operating in Nevada. In 1975, Bally was the first gaming company to be traded on the New York Stock Exchange. Extra reels on slots meant bigger jackpots and increased number of symbols on each reel. Stakes were increased and players could gamble up to $100 on a single spin of the reel.
By 1990 slot machines accounted for two thirds of gaming revenue in Las Vegas. Nearly three quarters of all casino floor space is filled with the singing sound of the slots. Next week, we look at the history of slot machine and what's happening on the casino's floor now. Next next week we end our history with a look and a discussion on what the future could hold for lovers of bandits.
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