Last Friday, the deal, concerning the acquisition of Bally Technologies, was closed. According to the information, Scientific Games obtained Bally for the impressive sum of $5.1 billion.
On Thursday (Nov.20), regulators of Nevada Gaming Commission approved of the deal between Scientific Games Corporation and Bally Technologies Inc.
As soon as the approval was received, managers of Scientific Games announced that the deal will be completed no later than the next day, Nov.21st.
The agreement between both companies is believed to put a start of a new era in the development of the gaming industry worldwide.
Bally Technologies was said to be the leader in providing gaming equipment and now, it is owned by another prominent company in the gaming industry – Scientific Games, that is claimed to be the most popular developer of lottery games and equipment on a global scale.
The year 2013 was successful for Scientific Games as well, because the company started consolidating its positions on the market. WMS Industries and SHFL were among company’s top acquisitions. They were obtained for the total sum of $2.8 billion.
In order to become an owner of Bally, Scientific Games was supposed to pay $83 per share. The total sum of money, all outstanding Bally shares were estimated to cost, was $3.3 billion. However, the company has finalized the deal sooner than expected.
Gavin Isaacs, the CEO of Scientific Games, commented that the collaboration between two reputable companies would be, by all means, successful. He also added that from now on customers’ satisfaction will be even more important and all efforts will be focused on developing high quality products that exceed players’ expectations. Every opportunity for introducing an innovative and engaging game will be taken.
According to the estimates, cost savings were approximately $235 million. Predictions about the revenue, generated by both companies, is believed to exceed $3 billion per year.
Apart from expressing his excitement from the deal, Isaacs also told the media that there will be some structural changes within the company and all kinds of gambling activities that have been legalized – casino games, lottery, table games etc, will be affected but luckily, these changes will be favorable to players because they will be made with the aim of ensuring utmost quality of all products and services.
Derik Mooberry, Jordan Levin and James Kennedy were announced to be a part of the management of Scientific Games. Each one of them would responsible for developing and regulating a particular type of gaming activity.
Isaac commented that Scientific Games can take pride in having some of the most experienced and committed professionals in the gaming industry. They are all highly respected, supported and said to take all four companies – Scientific Games, SHFL, Bally and WMS to new heights.
