You don't see games like this in vegas anymore. It's a mechanical horse racing game where you put in quarters and then look at the odds and pick "win and place" (first and second), horses race, collect your winnings and pick again.
Pretty fun game. Lots of banter on the table (at least the 2 times I went). Great way to spend time on something that isn't expensive to gamble in a great atmosphere.
Located near the MGM Grand buffet!