A two-wire exchange system is disclosed that enables a gaming device having one communication port to function as a gaming device having a plurality of communication ports. The two-wire exchange system allows a gaming device having only a single communication port to connect to two or more system hosts simultaneously. The two-wire exchange system is an intelligent multiplexer that communicates using the same protocol as the system hosts to which it is connected. The two-wire exchange system has the ability to respond to a poll from the system host by indicating that the gaming device is busy, and that the system host should poll the gaming device again. This is provided to avoid and to prevent data collisions. The two-wire exchange system is also able to directly arbitrate and facilitate the communication between one or more peripheral hosts and the system hosts.