Gaming system having dynamically changing image reel symbols

A system for dynamically changing the graphical content on mechanical slot machine reels is disclosed herein. The system includes mechanical slot reels, flexible display panels, and data transmission techniques which provide for dynamically updating or changing the graphics on the spinning mechanical reels in a slot machine. In one system for dynamically changing graphical reel content, new image content is placed on the reels at any time, even while the reels are spinning. The system may even be used to give the appearance of rotation to a stationary reel.