Las Vegas-Area Casino Guaranteeing $574K Progressive Slot Jackpot

Posted on: September 6, 2022, 07:16h. 

Last updated on: September 6, 2022, 07:37h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Club Fortune Casino in the Las Vegas suburb of Henderson is guaranteeing the largest jackpot in that town’s history. It announced today (Tues. Sept. 6) it’s partnering with slot machine manufacturer Light & Wonder to award $573,777 on a Quarter Millions machine.

Club Fortune Casino
Slot machines at Club Fortune Casino in Henderson, Nevada. The venue is preparing for a progressive jackpot of nearly $574,000. (Image: Las Vegas Sun)

The jackpot is only available at Club Fortune, which is located at 725 S Racetrack Rd. Starting Sept. 7, bettors will have a chance to hit the long-running progressive before the Quarter Millions devices are turned off.

After 20 years, Light & Wonder, formerly Scientific Games, is ending its wide area progressive ‘Quarter Millions,’’?according to a post on the gaming venue’s Casino website. “The jackpot still has to be given away, so they are team with Club Fortune Casino in Henderson to place the jackpot on four other Light & Wonder machines.”

In an effort to generate buzz, Light & Wonder is increasing the odds of the jackpot hitting by 54x.

Progressive Slot Policy

The idea behind progressive slots, many of which operate on an interstate basis, is straight forward. The more the machine is played without a top jackpot being won, the larger the prize pool grows.

Conversely, non-progressive machines payout fixed amounts. The allure of progressives is simple: Those machines offer larger payouts, and casinos tap into that by featuring running tallies of the progressives atop those devices. Of course, there’s a catch, and that is the point: that big progressive jackpots don’t hit as regularly those on fixed-payment machines.

That said, progressives do eventually hit, and when they do, bettors’ lives change. Last month in Florida, a fortunate bettor hit a Dragon Link Golden Century progressive jackpot worth more than $1 million. A visitor to Mohegan Sun — a tribal casino in Connecticut — hit a $3.8 million progressive on the popular Wheel of Fortune device in April.

The largest slot machine win of all-time in Nevada occurred in 2003 at MGM Resorts International’s Excalibur on the Las Vegas Strip. A bettor won $39.7 million on a Megabucks machine. Light & Wonder rival International Game Technology makes the Megabucks and Wheel of Fortune slots.

Adios Quarter Millions

Neither Club Fortune Casino nor Light & Wonder commented on why the Quarter Millions machines are being turned off. But it could be a symptom of bettors gravitating to other devices, or the casino wanting to refresh its offerings.

That’s possible because industry analysts note commercial and tribal casinos across the country are in the midst of what could be a multi-year slot upgrade cycle.

No expected date for the big Henderson jackpot was revealed.