First, this MEI SC6602 is the correct bill validator for the S2000/I-game Game King. All SC6602 validators use ID024 which is the IGT interface. You may have an older software version which doesn't accept the latest bills but I doubt this would cause a communication problem. It should just reject bills it doesn't recognize but all versions should take $1.00
Do you have another SC6602 head you can swap as a test ? The problem might be in the the head, the interface board in the chassis or the wiring harness/connections.
According to the part number, this is a flash version BV head. If you have the older software version and need to update, you need to find someone who can flash it (load the latest software). It would probably be simpler to just buy another BV head.