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Bally Revenues Near $1 Billion

Bally Revenues Near $1 Billion

Slot and system manufacturer Bally Technologies announced record quarterly diluted earnings per share of 95 cents and record quarterly revenue of 4 million for the three months ended June 30, 2013. Diluted EPS was a record .45 on record annual revenues of 7 million for the year ended June 30, 2013.

“Fiscal 2013 was a truly momentous year in Bally’s history,” said Bally President and CEO Ramesh Srinivasan. “We made enormous progress in many different ways, including continued growth in wide-area progressive units, record gaming operations revenue, significant success in new markets like Canada, Illinois, and South Africa, establishing new revenue records in Systems while setting up Systems for further growth in the years ahead, and the launch of Bally content in regulated online jurisdictions.

“These achievements position us well for continued growth in fiscal 2014 and beyond.”

Srinivasan added that the acquisition of SHFL entertainment, expected to close by next year, “will position us even better as an innovative end-to-end gaming solutions provider. We remain steadfastly focused on executing well in our core business.”

In other Bally news, the company announced the launch of “Michael Jackson Wanna Be Startin’ Somethin,’” the sequel to last year’s runaway hit “Michael Jackson King of Pop.”

Featuring new bonuses, the machine is loaded with five more of Michael Jackson’s most popular tracks: “Bad,” “Billie Jean,” “Don’t Stop ‘Til You Get Enough,” “The Way You Make Me Feel” and “Wanna Be Startin’ Somethin’.”

“This encore to the hit Michael Jackson King of Pop game is sure to thrill players and fans of the widely beloved artist,” Bally Technologies Vice President of Product Management and Licensing Jean Venneman said in a statement. “We are excited to deliver a game that features some of Michael Jackson’s most iconic songs, along with unprecedented player interactivity and the chance of a life-changing wide-area progressive top jackpot.”

Meanwhile, Bally Technologies has cleared its mandatory waiting period with the Federal Trade Commission to acquire SHFL entertainment. The waiting period expired August 26. The FTC did not take action during the waiting period, which falls under the 1976 Hart-Scott-Rodino Antitrust Act. The completion of the waiting period was a standard condition in finalizing the acquisition.

The merger was announced July 16 by both entities. Bally’s purchase shares are $23.25 each. Regulatory approval is still needed in several jurisdictions like SHFL’s shareholders and regulatory agencies. Bally has commitments for a $1.1 billion term loan to finance the SHFL acquisition.

 

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