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Howard Stutz
 

Bally Technologies reports increased quarterly profits

10 August 2012

LAS VEGAS -- Slot machine maker Bally Technologies, Inc. said Thursday that company profits grew 11 percent in the fourth quarter, thanks in part to the increased installations of revenue sharing games in several casinos, including Resorts World New York.

Bally, based in Las Vegas, said operating income was $49 million in the quarter that ended June 30, compared with $44 million in the same quarter a year ago. The figure translated into earnings per share of 61 cents, compared with 51 cents per share in the 2011 fourth quarter.

Companywide revenues grew 15 percent to $246 million. For Bally's entire fiscal year, companywide revenues reached $880 million, a 16 percent increase.

Bally told investors the company's slot machines, in which it shares revenues with casino operators, grew by almost 500 games in its fourth quarter, led by games themed after the movie, "Grease," and the music of pop star Michael Jackson.

"Total new gaming devices sold was the strongest it has been in 13 quarters, and in late July we went live with our first video lottery terminals in Italy," Bally President Ramesh Srinivasan said.

Bally reported earnings after the close of the stock markets Thursday.

Shares of the company traded down 80 cents, or 1.87 percent, to close at $41.99 on thew New York Stock Exchange.