bally technologies inc (BYI) Key Developments
Bally Technologies, Inc. Announces Systems and Interactive Agreements with SLS Hotel & Casino
Dec 3 13
Bally Technologies, Inc. announced SLS Hotel & Casino has selected a wide array of Bally's innovative systems and interactive solutions. The agreement includes floor-wide deployment of Bally's iVIEW Display Manager (DM)(TM) with Elite Bonusing Suite (EBS)(TM), enabling SLS to offer guests tremendous bonusing events such as DM Tournaments(TM), U-Spin(TM) Bonusing, Flex Rewards(TM), and Virtual Racing(TM). SLS will use Bally's ACSC(TM) slot monitoring, marketing, player-tracking, and accounting solutions, as well as the Promotional Kiosk(TM) application, the automated dispatch and alert system Service Tracking Manager(TM) (STM), and Bally Business Intelligence(TM) to analyze and visualize data.
Bally Technologies Announces New Senior Executive Leadership Team
Nov 25 13
Bally Technologies, Inc. announced its new senior executive team following the completion of the Company's acquisition of SHFL entertainment. Senior-level executives announced, all of whom will report to the CEO, include: Senior Vice President for Law and Government, Secretary, and General Counsel Mark Lerner. Lerner will retire effective December 31, 2013 and SHFL's General Counsel and Executive Vice President Katie Lever will become Senior Vice President of Legal and Compliance, Secretary, and General Counsel, effective January 1, 2014. Senior Vice President of Business Development and Interactive John Connelly. Connelly has more than 20 years' experience in the global gaming industry, including nearly 10 years in various capacities at Bally. Senior Vice President, Chief Financial Officer (CFO) and Treasurer Neil Davidson. Davidson has been Bally's CFO since 2010 and has been with the Company in key financial roles since 2006. Senior Vice President of Australia and Europe Adrian Halpenny. Halpenny was President of SHFL's Australasian and Asia businesses since 2010 and served as SHFL Australasia's Director of Operations from 2007 to 2010. Senior Vice President of Operations and Human Resources Gary Kapral. Kapral has been with Bally since 2005 overseeing organizational development and implementation of Bally's global human resources strategic-growth initiatives. For the past year, Kapral has also been leading Bally's operations and global supply chain. Senior Vice President of Technology Bryan Kelly, who joined Bally in 2004 and manages the research and development of new gaming technologies, features and products. Senior Vice President of Customer Services Sridhar Laveti. Laveti joined Bally in 2006 and is responsible for managing the services and support teams for the games and systems divisions. Senior Vice President of Games, Table-Game Products, and Interactive Research & Development (R&D) Derik Mooberry. Mooberry will also oversee sales and operations in Mexico and Latin America. Mooberry has held several leadership roles at Bally and has nearly 20 years of industry experience. Senior Vice President of North American Sales and Corporate Marketing Robert J. Parente. Parente previously served as Bally's Vice President of Canada, Europe and Corporate Accounts and has nearly 20 years' experience in the gaming industry. Parente will oversee a consolidated sales organization, with direct reports including veteran executive Tom Reilly and several other long-time sales executives from Bally and SHFL. Senior Vice President of Asia, India, and South Africa Srinivasan Raghavan. Raghavan joined Bally in 2005, overseeing Development Centers in India, and previously served as Bally's Senior Vice President of Asia-Pacific & Africa and Managing Director of Bally India. Senior Vice President of Systems Research & Development and Information Technology Sethuram Shivashankar, who joined Bally in 2006. In this role, Shivashankar is responsible for the product management and software development of Bally Systems products and global Information Technology.
Bally Technologies, Inc. Amends Existing $1.1 Billion Credit Facility and Closes New $1.1 Billion Term Loan B Facility
Nov 25 13
Bally Technologies, Inc. announced that it has completed the acquisition of SHFL entertainment, Inc. In connection with the acquisition, Bally amended and restated its existing $1.1 billion credit facility and closed a new $1.1 billion Term Loan B facility with an all-in yield of 4.375 percent. Proceeds from the new Term Loan B facility and excess capacity under the existing credit facility will be used to fund the acquisition and pay related fees and expenses.
Conrad Punta del Este Resort & Casino Selects Bally Technologies as iGaming Platform Provider
Nov 22 13
Bally Technologies announced an agreement for Bally Interactive to provide its iGaming Platform solution to Conrad Punta del Este Resort & Casino.
Bally Technologies, Inc. Announces Consolidated Unaudited Earnings Results for First Quarter Ended September 30, 2013; Revises Earnings Guidance for the Fiscal Year 2013
Oct 30 13
Bally Technologies, Inc. announced consolidated unaudited earnings results for first quarter ended Sept. 30, 2013. For the quarter, the company reported revenues of $249,289,000, operating income of $56,968,000, income from operations before income taxes of $54,122,000, net income attributable to company of $37,784,000 or $0.97 per diluted share, adjusted EBITDA of $86,653,000 compared to the revenues of $235,151,000, operating income of $53,589,000, income from operations before income taxes of $49,373,000, net income attributable to company of $32,532,000 or $0.77 per diluted share, adjusted EBITDA of $78,774,000 for the same quarter a year ago. Non-GAAP EPS was $0.96 compared to the $0.77 for the same quarter year ago. Free cash flow, defined as operating cash flows less capital expenditures, was $49.3 million this quarter as compared with $33.5 million in the prior comparable period.
The company increased its fiscal 2014 guidance for Diluted EPS to a range of $3.80 to $4.10 and now expects that quarterly Diluted EPS will be fairly equally weighted during fiscal 2014. This guidance does not reflect the impact of the planned acquisition of SHFL entertainment or any acquisition-related costs or savings or the effect of the favorable tax settlement realized during the first quarter of fiscal 2014.