Scientific Games acquires Slot machine maker Bally for $3.3 Billion

Scientific Games acquires Slot machine maker Bally for $3.3 Billion

Scientific Games acquires Slot machine maker Bally for $3.3 Billion

Scientific Games buys Bally Technologies in cash deal for $3.3 Billion, including refinancing of Bally’s debt., the deal value increased on 5.1 Billion.

“I think the industry is just getting broader and broader,” Gavin Isaacs, Scientific Games’ president and chief executive, said in a conference call. “There are lots of smaller companies making inroads into the industry.” added

The Scientific Games businesses includes electronic gaming machnies, sports betting technology instant lottery tickets as well as loyalty and rewards programs. Scientific Games debt financing providers are Bank of America Merrill Lynch, Deutsche Bank and JPMorgan Chase. Groton Partners, Macquarie Capital and the law firm Skadden, Arps, Slate, Meagher & Flom are advising Bally Technologies. The deal have to go through regulatory and antitrust approvals. The company expected to close the transaction in early 2015.

Mr. Stakebay says:

This industry continues to consolidation from Gtech agreed to acquire slot machine maker IGT of Las Vegas in cash and stock deal for $4.7 Billion last month. The combined company will have revenue of $3 Billion. Both of companies increased acquiring or offering online and interactive games via social media to reach bigger Internet gaming market share.

 

President and CEO of Scientific Games inc. ………………David L. Kennedy……………… (2013-present)………………..$ 2 804 408 (2013)

CEO of Bally Technologies…………………………………..Ramesh Srinivasan…………… (2012 – present)……………….$ 4 860 776 (2013)

 

SCIENTIFIC GAMES

BALLY TECHNOLOGIES  

Revenue

$ 1.091 billion (2013)

$ 997.039 million (2013)

Operating income

$ – 18.3 million (2013)

$ 235.51 million (2013)

Profit

$ – 25.6 million (2013)

$ 141.444 million (2013)

Total assets

$ 4.242 billion (2013)

$ 979. 265 million (2013)

Total Equity

$ 375 million (2013)

$ 119.172 million (2013)

Employees

5200(2013)

3443(2013)

You Might Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>