Stan Fulton, someone who can be credited with helping to create the video slot machine, has unfortunately passed away. Fulton died on Thursday the 11th of January in Las Vegas at the age of 86. Fulton was known to be a generous man and used his fortune to help shape the gambling industry. Some of his projects included helping to fund the International Gaming Institution at the University of Nevada Las Vegas (UNLV).
Stan Fulton has passed away in Las Vegas, aged 86. He founded the company responsible for developing the world’s first video slot machine.
Fulton and the Gambling Industry
Fulton was born in 1931 and would later attend the University of Maryland. He didn’t stay at the university long before dropping out in order to sign up with the United States Air Force. After being discharged from the air force in the 1950s, he made his way to Las Vegas. There, he set out to become a businessman. He started his career by building cable TV systems, but he would eventually move into the gambling industry.
He went on to start the company Fortune Coin. His company created the world’s first video slot machine in 1975, and many doubted whether it would find much success. However, early doubters would be proved wrong as the casino industry did take notice of this new type of slot machine. He would go on to sell his company to IGT and make a nice profit. In the 1980s, he started another company called Anchor Coin. This company would eventually become Anchor Gaming and provided its services to numerous casinos in Colorado and Nevada. It also developed many different types of slot machines, including Wheel of Gold. This slot is the predecessor of Wheel of Fortune, one of the most popular and successful slots of all time.
Fulton Gives Back
Fulton was also committed to giving back and spent a considerable amount of money on education projects. The most famous of this was when he provided the majority of the initial funds needed for the International Gaming Institute at UNLV. The relationship between Fulton and the university eventually soured, but his legacy lives on.
He also provided a considerable amount of funding to the New Mexico State University, with officials saying he was their biggest donor. He reportedly donated over $17 million to the school. He also built the Stan Fulton Centre at Aggie Memorial Stadium.
Fulton helped shape the gambling industry into what we know today, as well as giving back to the youth. He will be missed, and our condolences go out to his family and friends.