Gaming Firms IGT and Bally Gain Nevada Approval for Multistate Progressive Jackpots

Slot MachinesSlot machine maker, International Game Technology (IGT) and online gaming solutions provider Bally Technology, succeeded in obtaining the Nevada Gaming Commission’s (NGC) approval in linking their Nevada-based progressive gaming systems to those installed in other U.S. gambling states.

The approval will enable the gaming companies to offer life-changing amounts of cash prizes similar to those offered by interstate lotteries. This is because a wider pool of slot machine players located in licensed gambling establishments throughout the U.S., in addition to those in Nevada casinos, will contribute a portion of their bets to the slot machine prize money at stake.

The NGC’s recent approval entails permitting links that would cross state lines in order to broaden the prize pool. This, therefore, would lead to faster and greater progression of cash prizes offered by casino networks operating in participating U.S. jurisdictions like California, Mississippi, New Jersey and Philadelphia, including some American Indian reservations. Whereas before, the linking of progressive jackpots for slot games such as Megabucks and Blazing 7, were limited to IGT’s statewide progressive gaming system in Nevada.

The NGC’s approved regulations for the multistate progressive jackpot include the collection of fees and taxation of prizes for slot and keno betting games. Revenues earned from multistate progressive game offerings in Nevada casinos, will be taxed in accordance with the state’s system. On the other hand, the taxes due on multistate progressive prize winnings will be collected by the jurisdiction where the betting game was won.