"Coin-operated gaming device" means any machine that is a so-called "slot" machine that operates by means of the insertion of a coin, token, or similar object and which, by application of the element of chance, may deliver, or entitle the person playing or operating the machine, to receive cash, premiums, merchandise or tokens; or a machine similar to the machine described above and which is operated without the insertion of a coin, token, or similar object.

[The term "coin-operated gaming device" does not include a bona fide vending or amusement machine in which gambling features are not incorporated, or an antique "slot" machine twenty-five years old or older that is collected and possessed by a person as a hobby and not maintained for the business of gambling.]