SHFL Q3 profits down near 39%

SHFL Entertainment the gaming equipment manufacturer which is being purchased by Bally Technologies for $1.3 billion has announced its third quarter results with profits down by 38.9% but revenues up 16%.

The company announced revenues of $73.5 million for Q3 that represents a rise of 16% compared to the same period in 2012. But profits fell to $6.4 million compared to the same period of last year, with the company blaming the drop in profits on the acquisition to Bally along with an increase in operating expenses as the firm expand their online gambling offerings.

Some good news was that SHFL said that that they saw a large increase in business for Asia due to increased sales in slot machines. The deal with Bally to purchase SHFL will be completed in the second quarter of 2014.