Business & Finance
02:07 PM

Casinos Betting On Cards

Park Place is using magnetic-stripe cards that slot-machine players can use instead of coins.

Park Place Entertainment Corp. is rolling more technology out onto the casino floor this month.

The gambling company is introducing "ticket-in, ticket-out" magnetic-stripe cards that can be used instead of cash at slot machines. The slot machines, from International Game Technology, pay out cumulative winnings on the tickets, which customers can exchange for cash or insert into other machines for additional play.

Already in use in Park Place's Paris and Bally's casinos in Las Vegas, the tickets will be available by year's end in 16 more casinos, including Caesars Palace and the Flamingo in Las Vegas, and Park Place in Atlantic City, N.J. Customers using the tickets theoretically can spend more time gambling rather than schlepping coins around. But the tickets also give Park Place management more of a real-time read on a casino's winnings and losses, notes Park Place senior VP Robert Stewart. And yes, if you win at the slots, the machines still make the sound of coins dropping.

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