Bally Gaming Technologies is a name on plenty of players’ lips around the world at the moment as the Las Vegas based game developer looks to expand from simply creating some of the best loved land based slots to becoming a competitive online provider too. Their latest financial results indicate that they are definitely going in the right direction, with the announcement of revenues of $285 million for the fourth quarter of 2014, a new record.
The most notable event for the company during the quarter, at least financially, was the acquisition of SHFL Entertainment in November, which set them back $1.1 billion. Speaking at the time of the acquisition last year, Ramesh Srinivasan, CEO and President of Bally, commented: “We are thrilled to announce the successful completion of our acquisition of SHFL, marking the beginning of a combination of two best in class, highly complementary and customer-centric gaming technology companies that will be even stronger together. Bally and SHFL both have a strong culture of commitment to innovation, responsive customer service and quickly adapting in a fast paced industry. As a combined company, we believe that we will enhance our ability to serve our customers, accelerate innovation, improve upon our collective product portfolio and deliver meaningful long term value to our shareholders.”
Indeed, Bally did not hang around when it came to integrating SHFL into their company as both presented under the Bally name at last week’s ICE Totally Gaming convention in London. The financial results also include just over a month of SHFL operations, indicating that the company is proving to be a positive addition to Bally’s gaming portfolio.
Ramesh Srinivasan also commented this week on the results, saying: “Our second quarter fiscal 2014 was transformative in many respects. We successfully closed the acquisition of SHFL ahead of schedule and the on-going integration process is moving forward smoothly. We have integrated our sales, services and product development teams while simultaneously continuing to execute well on our core businesses as evidenced in our second quarter results. Customer response across the globe to the integration, including the combined product roadmaps, has been positive. While more work remains to be done, we are off to a terrific start and are tracking ahead of our synergy targets. We believe that Bally is now well-positioned to continue industry-leading innovation and growth.”
The record revenues were up twenty percent on the same period in 2012, with both slots and systems seeing healthy increases, with only a minor two percent reduction in gaming operations letting the report down. Commenting on the results, Bally CFO Neil Davidson said: “Revenues that are recurring in nature set a quarterly record and accounted for approximately 51 percent of total revenue during the quarter. As we make progress on the integration process and continue to identify incremental synergy opportunities, we now expect cost synergies to be at least $40 million on an annualised run rate basis by the end of calendar 2014.”
While no specific mention is made of Bally’s increasing online presence, the availability of their games is sure to be something of a growth driver by the time the next batch of results are released. Their titles are already proving to be popular both among veteran Bally gamers and a whole new online audience. Quick Hit Platinum, arguably their most popular online game so far, can be played right here at Mr Gamez with no deposit required! If you fancy taking things to the next level for real cash, then you’ll also find a list of the top casinos for real play on the game’s page, including big names like Mr Green Casino. Find out all about Mr Green and more in our online casino reviews!