Bally record revenue of $229m

BALLY Technologies has posted its third-quarter record revenue of $229m for the three months ended March 31, compared with £191m in the previous year. EBITDA increased 22 per cent to $74m.

• Revenues increased 24 percent to $79 million as compared with $64 million last year, driven by higher unit sales and ASP.
• Revenues increased 16 percent to a quarterly record of $93 million as compared with $80 million last year, driven by growth in the installed base of premium and wide-area progressive games, as well as placement of games at the recently opened Resorts World Casino New York.
• Operating income increased 21 percent to $131 million compared with $108 million last year. Operating margin increased to 21 percent from 20 percent last year.

“The past several months have been momentous, with DM Tournaments helping set two Guiness World Records, numerous product awards received and record attendance at our Systems Users Conference,” said Richard Haddrill, the company’s CEO. “Most importantly, our third quarter financial and operating results are showing the pay-offs from multiple investments as we execute on our growth initiatives. Bally continues to have a bright future as we partner with our customers to innovate the gaming experience.” 

“We continue to thoughtfully allocate capital to invest in our growth, as well as to enhance shareholder value,” said Neil Davidson, the Company’s Chief Financial Officer. “This quarter represents the 18th quarter in a row that we have repurchased stock. Since December 31, 2011, we purchased approximately 1.2 million shares of common stock for $54 million at $45.69 per share, of which $41 million was in our third quarter, all while remaining under two turns of leverage.”

Bally said it anticipates record fourth quarter earnings.