The present invention provides a rotating bill acceptor for use with a gaming device. The gaming device includes a cabinet with a locking mechanism, where the bill acceptor is rotatably mounted within the cabinet and removably engages the locking mechanism. The locking mechanism includes one or two pins connected to the cabinet, wherein the pins are engaged by an engagement member on the bill acceptor. The bill acceptor rotates between a bill insertion position and a bill removal position and includes a cash box removably connected to the bill acceptor, which stores the bills until removed and emptied.