Bally reported 20% revenue increase in third quearter of the year

“The past several months have been momentous, with DM Tournaments helping set two Guinness World Records, numerous product awards received, and record attendance at our Systems Users Conference,” said Richard M. Haddrill, the company’s Chief Executive Officer.  “Most importantly, our third quarter financial and operating results are showing the payoffs from multiple investments as we execute on our growth initiatives.  Bally continues to have a bright future as we partner with our customers to innovate the gaming experience.”

“We continue to thoughtfully allocate capital to invest in our growth, as well as to enhance shareholder value,” said Neil Davidson, the company’s Chief Financial Officer.  “This quarter represents the 18th quarter in a row that we have repurchased stock.  Since December 31, 2011, we purchased approximately 1.2 million shares of common stock for us$ 54 million at us$ 45.69 per share, of which us$ 41 million was in our third quarter, all while remaining under two turns of leverage.”

As of today, the company has approximately us$ 57 million available under its Board-authorized share repurchase plan.  Additionally, the company’s leverage ratio remains below 2.0 times, which leaves the firm’s share repurchases unrestricted under the terms of its credit agreement.