742A-241 was originally a triple bar machine for the flamingo hotel/casino. Is that what you have?
it's sorta not important tho, as the handle release circuits in most 742A variations are pretty much the same.
the bad news is there's 8 switches in the handle release relay circuit. If any of them are flaky, you'll get the behavior you are seeing. Could also be a poor plug connection between the reels/cabinet or the cabinet/hopper.
if the problem is reasonably repeatable, you don't have to resort to the shotgun tactic of cleaning/checking everything if you have alligator clip jumper wires and maybe a voltmeter. Got those?
if you're familiar with schematics, you'll find documentation for some 742A slots in
https://bingo.cdyn.com/slots/ - the 742A-261 is a trip bar machine. The handle release coil is around D10 on the schem, and you need a closed circuit up to wire 90 and left to wire 30.
if the payout always works, the 30->90 path is ok and your problem will be in the 90->51-1 path. Since the 261 schem is hard to read, see the 742A-107 schem for wire ids.
note the wire color code chart on the schem ... e.g.:
90 = solid grey
57-1 = white with orange tracer
36-1 = yellow with brown tracer
25-1 = blue with white tracer
51-1 = white with red tracer
52-1 = white with blue tracer
'course, all the above probably have faded and crudded up to look grimy grey :-)
if you can post a picture of the inside of your door, that'd help. If you can't because the picture is too large, email highest possible resolution pics to slotpics@cdyn.com. Ideally:
- entire left side of reel mech (reel mech A, C, D switches)
- entire inside of the door (rejector armature)
- entire right side of reel mech (dashpot)
- relays on the hopper (payout relay)
if emailing from a phone, send them "actual size" so the phone doesn't downscale them.