A 40-year-old Fernley man is $1 million richer after wagering only $1.50 on a penny slot machine at a Reno casino.

James Lashua, who's stationed at the Fallon Naval Air Station as an electronic tech senior chief, won the $1.06 million jackpot Friday at the Atlantis Casino resort.

"I can't believe I won this much on a penny slot," he said.

Lashua plans to use the money to pay off the home he and his wife bought last year and pay off his mother's car.

A new investor in Reno-based International Game Technology, he's also considering adding to his stock portfolio.

IGT, the world's largest maker of slot machines, made the penny slot that he played.