Bally sets quarterly records

 “We continue to focus on and execute very well on all aspects of our core business, while undertaking significant and successful integration planning efforts in preparation for the planned acquisition of SHFL entertainment, which is expected to close before calendar 2013 year-end,” said Ramesh Srinivasan, the company’s President and CEO. 

“Our Systems business continues to build momentum globally, as our track record of success and investments in R&D and customer services and support paves the way for even greater industry leadership.  We showcased seven new wide-area progressive (WAP) titles at last month’s Global Gaming Expo, up from three new titles shown last year, reflecting our escalating R&D commitment to our gaming operations footprint.  Customer response to our new WAP, premium, and for-sale content, as well as to our new Pro Wave cabinet, which was one of the stars of the show, was very encouraging,” added Srinivasan.

“Operating margins increased to 25 percent when excluding costs related to the planned acquisition of SHFL entertainment, which marks our highest quarterly level in more than three years,” said Neil Davidson, the company’s CFO.  

“Revenues that are recurring in nature were a quarterly record and represented 57 percent of total revenues driven by a first-quarter record in WAP revenue and quarterly records in systems maintenance and services revenues. During August, we amended our existing credit facility and successfully syndicated our new us$ 1.1 billion Term Loan B with an all-in yield of 4.375 percent.  The planned acquisition of SHFL entertainment will be funded with proceeds from the Term Loan B and excess capacity on our existing Revolving Credit Facility, which had $505 million undrawn as of September 30, 2013,” concluded Davidson.