The phrase "last reel" refers to the final part or scene in a movie or story. It symbolizes the conclusion or ending of a narrative, where the resolution or outcome is revealed. Full definition
Getting a golden horse on the first and last reel triggers the game mode and switches screens allowing you to watch your horse race against other competitors in over 48 different cups. (appspy.com)
What remained was a handful of shots and a few mistakes, all on one last reel here. (galeriebuchholz.de)
The movie opens in India, its climax is in China, and politicians from Japan and Germany play a significant role, but there's only a passing mention of South America — a high - angle shot of Rio de Janeiro's famous hilltop statue Christ The Redeemer falling to pieces — and nary a mention of the African subcontinent until the very last reel. (avclub.com)