LAS VEGAS (AP) — A man in town to watch the NCAA basketball tournament hit a $38.7 million jackpot on Friday, the biggest slot machine payout ever.
The 25-year-old software engineer from Los Angeles, whose name was not released at his request, won after putting three $1 coins in a machine at the Excalibur hotel-casino, said Rick Sorensen, a spokesman for slot machine maker International Game Technology.
The progressive Megabucks Jackpot is generally paid out in equal amounts over 25 years, although winners can negotiate other payoffs, Sorensen said.
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The system links dollar slot machines in 157 Nevada casinos.