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Oregon commission approves sale9 November 2006LAS VEGAS, Nevada – (PRESS RELEASE) -- Bally Technologies, Inc. (NYSE: BYI) announced today that the Oregon State Lottery Commission has given approval for Oregon Lottery Director Dale Penn to enter into a contract to purchase 2,300 Bally machines valued at more than $31 million. Seeking to replace a large number of legacy machines, the Oregon Lottery engaged Bally and three other companies in an evaluation process. The Oregon Lottery awarded 100 percent of the procurement to Bally. The contract will cover the purchase of 2,300 machines -- all in the form of Bally's innovative wide-screen CineVision(TM) cabinet -- and related game software. The first 200 machines are scheduled to be placed in Oregon Lottery retail locations beginning in June 2007, with the balance to be installed in the following months. "The Oregon Lottery is excited about the dynamic look of the CineVision VLT and the revenue potential we will have with this new video lottery model and game mix," said Penn. "Clearly this is a ringing endorsement of Bally's innovative video game offerings and the unique CineVision cabinet," said Richard Haddrill, CEO of Bally Technologies. "This contract will give us an immediate 20 percent lottery market share in Oregon and positions Bally to be a long-term partner with the Oregon Lottery as it continues to grow and prosper. I believe this deal is also further proof of Bally's ability to offer innovative products that conform to the technology standards for both traditional and non-traditional markets in North America and beyond." For the past fiscal year ending June 30, 2006, the Oregon Lottery registered $1.09 billion in sales, marking the first time in the Lottery's 21-year history that sales reached the billion dollar level. Bolstered by those record sales, an all-time high $483.6 million of Lottery profits were transferred to the State Economic Development Fund this fiscal year. The Lottery's previous high sales mark was reached in fiscal year 2005 with sales totaling $937 million. The prior record transfer to the State was also in fiscal year 2005 with transfers of more than $415.8 million. Since the Lottery began in 1985, nearly $4.8 billion in Lottery profits has gone to public education, economic development, state parks, watershed enhancement, and salmon habitat restoration across the state. Looking ahead, in the present biennium alone, the Lottery is projected to provide $1.05 billion for these programs. With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. Bally's product line includes reel-spinning slot machines, video slots, wide-area progressives and Class II, lottery and central determination games and platforms. As the world's No. 1 gaming systems company, Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions. The Company also owns and operates Rainbow Casino in Vicksburg, Miss. A
Oregon commission approves sale
is republished from Online.CasinoCity.com.
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