Around 8 p.m. last Tuesday, several hundred slot players across Las Vegas got a pleasant surprise while a captive audience of several thousand got to watch.
That's when a catchy tune called "The Money Song" blared from overhead speakers at each of Station Casinos' eight major casinos and slot players with their Boarding Pass or Amigo player club cards inserted into the machines got a message that they had just won $50 in slot play.
In 2003 the dominant locals operator launched a promotion called Jumbo Jackpot, a slot jackpot ranging from $50,000 to $150,000 awarded to a random gambler who happened to be playing any Station slot machine at the time the jackpot hit.
Amid the frenzied slot wars fought between local casino operators, Jumbo Jackpot quickly rose from its status as simple slot marketing tool to a significant earnings driver for Station and a recurring topic on conference calls with Wall Street analysts.
Players have won about $10 million in jackpots since the promotion's debut.
In May, Station sweetened the pot by awarding $50 in slot credits to each gambler who happens to be playing a slot machine when the jackpot hits.
The feature has turned into a double play for Station: a promotion that attracts players, makes them feel good about Station and at the same time profits the company.
Station created the $50 add-on after player surveys indicated that more people wanted a piece of the jackpot.
"When the Jumbo hit at Sunset and you're at Santa Fe, you'd say, 'That's great. What's in it for me?' " Station Casinos Vice President of Advertising and Marketing Staci Columbo said.
The company also raised the jackpot minimum to $100,000. As before, the progressive jackpot must hit a player's card by the time the pot reaches $150,000.
Players can't cash out the credits that are automatically put on their slot cards and must instead play them through at least once at the machine.
So how does the math work out for Station?
Columbo said the money for the slot credits comes out of an existing marketing budget that has been shifted toward Jumbo Jackpot promotions and away from previous slot promotions the company has tried. One such promotion was "A Car a Day in May."
"All of the drawings we previously were doing we felt our competitors could do next week," she said. Station now has an exclusive arrangement with Acres Gaming, the owner of the bonusing software that created Jumbo Jackpot.
Columbo insists that Station hasn't tightened its slot machines by lowering payback percentages, as other casino companies in town have done, to offset the cost of the new promotion.
Anthony Curtis, publisher of the Las Vegas Advisor gambler newsletter, calls the $50 in credits "a good deal."
Gamblers who play through those credits just once would get $48.25 back based on a video poker machine hold percentage of 3.5 percent. Even playing a machine with a lower payback, say a Megabucks slot, could result in $44 back for the player, Curtis said.
Most slot players won't just play through credits once and will probably spend more time gambling them down trying for a hit, he said.
Lots of local slot players have learned to see through the "smoke and mirrors" of casino promotions, Curtis said.
Overall, Station has done a "tremendous" job growing customers without alienating sophisticated slot players who in some cases comparison shop for deals, he said.
"If (players) can find a (video poker) pay schedule at Station that's as good as another casino, they know this is a pure giveback for them," he said. "And Station has some good schedules."
About 17,000 people have received the $50 promotion since May. That means about 1,550 people got the credits each of the 11 times the jackpot hit. That also means that roughly 1 percent of the county's population have so far received a Station credit.
When that happens, "it's like a party across the entire casino floor," Columbo said.
The Jumbo Jackpot promotion is turning some casual slot players into more frequent bettors, she said.
"The casual player who maybe went to dinner and stuck $20 in a machine in passing are using their cards more often ... they are taking their time to take their card out."
Columbo won't say how many people belong to the company's players club.
Competitor Boyd Gaming Corp. didn't flinch when asked about whether the latest Jumbo Jackpot feature had cut into business.
During the company's second quarter conference call, Boyd Gaming President Keith Smith said officials "haven't seen any impact" from the promotion.
Liz Benston is a gaming writer for In Business Las Vegas and its sister publication, the Las Vegas Sun. She can be reached at (702) 259-4077 or by e-mail at benston@lasvegassun.com.