There are still lots new brand-name games out there and retooled versions of existing licensed themes like "Monopoly" and "Beverly Hillbillies." But the sheer volume of so-called "pop slots" appears to be waning.

With apologies to some of the celebritites in attendance this year, the star power was not as strong as it has been in years past, what with the likes of Whoopi Goldberg, Pele and Clint Eastwood strolling the slot floor. Last year, Pele and Eastwood were not far from Drew Carey and Ann-Margaret pitching their own slots.

This year featured comedian George Lopez, actress Morgan Fairchild, KISS musician Gene Simmons and the host of the TV show "Soul Train." International Game Technology, the world's largest slot maker, says the trend is still going strong and that licensed themes still have a place on the slot floor.

IGT Vice President of Marketing Ed Rogich said the reason for fewer brands at the show this year is probably more a function of slot makers scaling down the number of prototypes they are showing compared to years past.

"Rather than previewing (products) a couple of years out, 90 percent of our games will be slated for release in the next three to six months," Rogich said. Other companies are doing the same, he said.

At least one competitor, Alliance Gaming Corp., says it has scaled back on the number of new licensed brands it plans to introduce.

"Some of them work -- 'Playboy' has been a smash hit," said Marcus Prater, director of marketing for Alliance's Bally games unit. "Others have been mixed at best."

"The best titles are gone," Prater said. "You will still see a lot of (licensed brands) at the show. But the craze has peaked."

Bally's Playboy slot is now in 20 countries and has been doing especially well in Russia, the company has said. Then there's "To Tell the Truth" -- one of many games that slot companies have based on vintage game shows.

"We thought it would do well with the older game show viewer," Prater said. "It just bombed."

Some observers say that Alliance's decision may be more about the company's financial difficulties in recent quarters than any broad industry trend. The company may be more conservative with its money these days, they say.

IGT, which still maintains a 65 percent market share in North America, is rolling out a slew of brands, including "Raiders of the Lost Ark" and "The Apprentice."

The company will spend $129 million on research and development in its fiscal year ended Sept. 30 and is expected to spend about $140 million this coming year.

Companies say they have become selective about which deals they will strike with celebrities or well-known brands.

Chicago-area slot maker WMS Industries, one of several companies that has been increasing market share in recent months, said it has had great success with some of its biggest brands.

But the company likes to choose brands that can be developed into several different kinds of slot machines using different parts of the brand and new bells and whistles.

"We invest too much time and effort into a new brand for it to be gone in six months," said Phil Gelber, vice president of game development at the WMS Gaming slot unit.

"We don't just churn through brands," Gelber said. "We're looking for new innovations."

The company's "Monopoly" slot, which is 10 years old, is now in its 30th variation. WMS is now working on its third "Men in Black" slot machine in a year after the first two machines were a "runaway success" in Nevada and other areas, Gelber said.

Licensed slots are a risky proposition that few companies can afford to make. Even generic slots are a gamble because they don't really get tested until they are out in the real world. Companies like Station Casinos replace more than 30 percent of their slot floor in a year, including machines that don't perform.

In order to recoup their investment, slot companies typically require some form of revenue sharing agreement with casinos, which means those machines aren't as profitable for casinos and won't ever become a major part of the casino floor.

IGT has argued that casinos should offer more of the company's popular Wheel of Fortune machine, which touched off the licensing craze in the 1990s. But casino managers would rather offer fewer of the machines and more of the slot companies' homegrown brands, which aren't as flashy but can squeeze out more profit per square foot.

"It is becoming more prohibitive to get into the licensed (slot) business," Rogich said. "Some (celebrities) are asking too much. The cost of playing in that field is getting higher and there's always been this conflict with the casinos because they have to make more money to be on their floor."

What companies get in return for their hefty license fee (estimated in the hundreds of thousands of dollars) is also important.

"If it's just a name and no music attached to it that's one thing. If it's the content of an entire movie, that's different," Rogich said.

All glitz and no payback doesn't help, either.

Daniele Lorentine, assistant slot manager for the Tohono O'oodham Gaming Enterprise, which owns three tribal casinos in Arizona, knows that all too well.

Lorentine planted herself in front of a "Rock and Roll All Night" slot by Progressive Gaming International at the expo Tuesday. The slot, based on the famed KISS song, features popping flashbulbs, animated band members and, of course, replays of the song.

"We want to see how the games play," she said, punching buttons to get a bonus round. "It's not just about looks."

"It's all about knowing what your customers want," she added. "What machines work at a resort casino might not work at a locals joint."

Liz Benston covers gaming 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.