Japan Hits Jackpot with "Pachislot" Slots Games, But for How Long?
According to one estimate, the pachinko industry, which also includes the popular pachislot slots game, collects about four times more in yearly revenues than all casinos worldwide. Pachislot is a more sophisticated version of the classic slot machine. The only significant difference between the two is that in pachislots, the gambler stops the reels himself. Thus, in order to win, players must have a sharp eye and a skillful hand.
Government records show that in 2004, the pachinko industry collected about 29 trillion yen in yearly revenues from legalized gaming venues across Japan. Although gambling activities are prohibited in the country, pachinko and the pachislot slots games are not considered illegal. This is due to the fact that winners don’t receive cash prizes, but rather, merchandise, such as food and cosmetic products.
However, market analysts reportedly believe that the gold rush might end in the very near future. Every pachislot machine must be discontinued after three years of operation. In addition, gaming regulators in Japan have greatly restricted the slots payout, making it less appealing for casino patrons to play pachislot slots.
