Atlantic City's first $1,000 slot machine will debut at the new Borgata Hotel Casino and Spa. Industry observers acknowledge the machine is a novelty, but the large-denomination machines show how far slots have come in the gaming industry.

"There will be some players that will love to give this machine a shot," says Paul Tjoumakaris, vice president of slot operations at the Borgata. "It's an exciting machine."

Among the casino's 3,640 slots, two machines will offer $1,000 denominations, two will offer $500 denominations, 10 will offer $100 denominations, and 16 machines $25 denominations. Tjoumakaris said the $1,000 denomination machines will offer a $1 million payout as the top jackpot.

"It's one coin in - one thousand dollars, he said. "You can lose it all, or win a million dollars with one pull. The higher the value of the slot machine, the higher frequency of pay and higher dollar value of your pay."

Rick Sorensen, spokesman for gaming machine manufacturer IGT, says the machines already exist in Las Vegas as a high-roller novelty. "But we don't see it as a massive trend. It's a nice, little niche offering."

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Anyone collect the High Roller tokens (or pictures of them) from Las Vegas?