Las Vegas-based Bally Technologies, which manufactures and distributes slot machines and casino systems, reported its third-quarter earnings Wednesday.
Company: Bally Technologies Inc. (NYSE: BYI)
Revenue: $249.3 million (up 6 percent from the third quarter of 2012). Bally showed the most improvement in gaming system sales, up 48 percent to a quarterly record of $76 million. The company also showed a slight improvement in its operations — the revenue it shares with casinos on some progressive slot systems — and the $101.9 million revenue was a quarterly record. Slot machine sales were off 14 percent from last year because the company had video lottery terminal sales to the Canadian national lottery last year.
Earnings: $37.8 million (up 16.1 percent from the third quarter of 2012). The company is incurring one-time expenses in the acquisition of Shfl Entertainment.
Earnings per share: 97 cents a share (up 26 percent from third quarter 2012)
What it means: It was the ninth consecutive quarter of profitability for Bally, which had record revenue for the quarter.
Bally showed seven new wide-area progressive slot titles at September’s Global Gaming Expo in Las Vegas and expect to ride their success in coming quarters. Company officials say their commitment to new progressive research and development in gaming operations and its new Pro Wave slot machine cabinet have been well received by customers.
Bally’s catalog of games is compatible with the new Pro Wave cabinets, which will begin shipments in early 2014.
The company also has developed an online gaming platform, Bally iGaming, and is partnering with Cantor Gaming to provide its content for Internet games in Nevada and New Jersey.
Quote: “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.” — Bally President and CEO Ramesh Srinivasan