Scientific Games Completes Deal for Bally Technologies
If you are keeping up to date with news from the casino industry, you might have seen the news line “Scientific Games completes deal for Bally Technologies.” The acquisition which was completed in 2014 and marked a turning point for the industry giants. Bally Technologies is a world leader in the manufacture of land based slot machines and gaming technology. Founded in 1968, the company was originally called Advanced Patent Technology before changing its name to Alliance Gaming. In 1996, the company acquired Bally Gaming for which it is now named.
About Bally Technologies
When the news broke “Scientific Games completes deal for Bally Technologies”, the acquisition was met with nodding heads and pleasant smiles. It was no secret that Scientific Games had been set to take over Bally Technologies for months in advance. Scientific Games Corporation is one of the world’s leading developers of technology-based products and services for worldwide gaming and lottery markets. The American based company has a diverse portfolio that includes instant lottery games, draw-based lotter games, sports betting technology, electronic gaming machines, mobile and interactive content as well as server based lottery and gaming systems.
Approvals and Stumbling Blocks
Before the news finally hit that “Scientific Games completes deal for Bally Technologies,” the takeover was suspected to be on hold for a while due to lack of funding and various unforeseen stumbling blocks for the games developer. One of the main reasons the deal took longer than expected was due to the fact that Scientific Games had to receive regulatory approval from the overseeing regulatory body of Nevada. To add to this, Scientific Games had to satisfy the shareholders at Bally that the takeover would be completely worth their while.
Closing the Deal And Restructuring of Management
In 2014, it was finally announced that “Scientific Games completes deal for Bally Technologies.” After much speculation from the casino industry, the deal was made for a staggering $5.1 billion. With the acquisition complete, Scientific Games then had their sights on the restructuring of the Bally’s Management team. The restructuring would ensure the ongoing health and forward thinking ethos of the company itself. Their mission is to become the premier gaming and lottery entertainment company in the world by offering gaming and lottery operators a comprehensive portfolio of high-earning and player appealing games and technology solutions.
So what does the news line “Scientific Games completes deal for Bally Technologies” mean for the players. If you have been following casino news, you will remember not too long ago Scientific Games also acquired the games giant WMS industries for a massive $1.5 billion. This was in conjunction with Bally Technologies acquiring SHFL entertainment for $1.3 billion. The four gaming powerhouse companies all fall under one umbrella in the land-based and electronic gaming market. Players who are used to seeing WMS games at local casinos will probably be noticing a lot more Bally games coming into the fold. The joining of forces has meant the Scientific Games is poised to become one of the world’s largest and most dominant suppliers of gaming, lottery and entertainment products.