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Thread: MEGABUCKS! An MGM Winner!

  1. #1
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    Default MEGABUCKS! An MGM Winner!

    From the MGM Grand Twitter feed:

    MGM Grand Hotel ‏@MGMGrand The MEGABUCKS slot machine paid one lucky winner $12,463,144 this morning! #WINatMGM RT if you could use 12 million dollars.

    Can you imagine....Now THAT is a hand pay!

  2. #2
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    I believe they get it paid over 10 years or something, is that correct??

  3. #3
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    Wow! Congrats to the winner... I could really use some of this money ^^

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    Wink

    It's paid out over 25 years, and of course, subject to income taxes.

  5. #5
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    Even still, that's about 6 grand a week for 25 years. I'd be fine with that!

  6. #6
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    Does that mean you have to come back every year and tip the attendant?

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    That means the "industry standard" tip @ $100/$1,000 the W-2 attendant should get $1.24 million!!! Paid in cash or you could work out a deal with her over 30 years!!!

  8. #8
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    Click or hover your mouse to enlarge image Originally Posted by smartone Click or hover your mouse to enlarge image
    That means the "industry standard" tip @ $100/$1,000 the W-2 attendant should get $1.24 million!!! Paid in cash or you could work out a deal with her over 30 years!!!
    I see what you did there.... Click or hover your mouse to enlarge image

  9. #9
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    Hmm...no lump sum? That's not interesting.

    I like the idea of getting paid over 25 years because then that is guaranteed income but it's certainly not as exciting.

    In fact, I found myself getting envious until you said it's not a lump sum. Then I thought well it could have been anything paying them over 25 years. And 25 years is way too long to be getting paid. That's not fair.

    The elusive jackpot has lost some of it's allure. haha

    Sweet dreams are made of this

  10. #10
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    Click or hover your mouse to enlarge image Originally Posted by sco5123 Click or hover your mouse to enlarge image
    Hmm...no lump sum? That's not interesting.

    I like the idea of getting paid over 25 years because then that is guaranteed income but it's certainly not as exciting.

    In fact, I found myself getting envious until you said it's not a lump sum. Then I thought well it could have been anything paying them over 25 years. And 25 years is way too long to be getting paid. That's not fair.

    The elusive jackpot has lost some of it's allure. haha
    It is my understanding you can usually take a lump sum but it is based on the net present value of the jackpot (and probably calculated with an unfavorably/unrealistically high discount rate.) This would knock the value down by more than half, almost half again for the taxes, so you would be left with less than $3 million on your $12mm jackpot.

    I would take the money upfront anyway.



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