Bally Posts Record Figures

Online casino games and solutions firm Bally Technologies has announced record quarterly revenue of $249 million (€184 million) and diluted earnings per share of $0.97 for the three months through to the end of September.

In an interim financial report for the first quarter of the 2013-14 financial year, Bally said that revenue had increased by just over $14 million year-on-year.

The diluted EPS increased from $0.77 in the corresponding period of 2012, while the total gross margin increased from $149 million to $164 million.

“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 chief executive officer.

“Our Systems business continues to build momentum globally, as our track record of success and investments in research and development and customer services and support paves the way for even greater industry leadership.

“We showcased seven new wide-area progressive 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.”

Bally’s chief financial officer added, “Operating margins increased to 25% when excluding costs related to the planned acquisition of SHFL entertainment, which marks our highest quarterly level in more than three years.

“Revenues that are recurring in nature were a quarterly record and represented 57% of total revenues driven by a first-quarter record in WAP revenue and quarterly records in systems maintenance and services revenues.”

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