International edition
June 25, 2021

On revenue growth of 26%

Bally reports record first quarter revenues of us$ 237 million

(US).- Casino equipment maker Bally Technologies informed this week that its fiscal first-quarter profit jumped 42 % on strong growth in gaming equipment and systems revenue to top Wall Street expectations.

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or the quarter ended September 30, Bally Technologies earned us$ 30.3 million, or 52 cents per share, up from us$ 21.3 million, or 37 cents per share, in the year-ago quarter. Excluding one-time items, the company earned 56 cents per share.

The company’s revenue climbed almost 26 %t to us$ 237.4 million. Analysts polled by Thomson Reuters, whose estimates generally exclude special items, expected a profit of 48 cents per share on revenue of us$ 220.6 million.

Bally’s gaming equipment and systems revenue rose 29 % to us$ 159.6 million, while gaming operations revenue increased 25 % to us$ 67.8 million. But expenses also rose, increasing 24 % to us$ 183.9 million, mostly because of a rise in the cost of gaming equipment and systems. The company said it shipped 6,598 new gaming sale units during the quarter.

“The continued momentum in all of our technology businesses drove first-quarter earnings,” said its CEO Richard M. Haddrill. “Despite challenging economic and capital market conditions, we continue to grow our businesses through innovation and execution, which are driving market-share gains.”

“Our balance sheet and liquidity position are very strong,” added Robert C. Caller, the company’s Chief Financial Officer. “Our recently completed us$ 300 million financing gives us the flexibility we need to grow and take advantage of current market opportunities at a reasonable cost. Also, we continue to improve our infrastructure, which has contributed to a reduction in selling, general and administrative expenses to 25 percent of revenue in the current quarter from 28 % in the same period last year.”

“We shipped 6,598 new gaming sale units in the current quarter,” said Gavin Isaacs, the Company’s COO. “We are pleased with our steady increase in North America ship share and our ability to leverage our broad product portfolio across a diversified range of customers including Native American, lottery, and international. We attribute this success to our continued investments in game content and our recent investments in our international infrastructure. We are also excited about our new game content based on customer feedback leading into this year’s Global Gaming Expo (G2E).”

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