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Record Revenues for Bally Technologies

US land and online gambling supplier revenues up 22 percent.
Bally Technologies, Inc., a major US gambling equipment and content supplier, has posted its fiscal FY 2014 results, highlighting record revenues up 22 percent to $1.2 billion, pushed by increases of 30 percent in systems revenue and a stand-out performance from wide area progressive network revenues.
The company reported that its quarter ended June 30 produced outstanding results as well, with total revenue up 29 percent to a quarterly record of $342 million vs.$264 million last year, and adjusted EBITDA up 39 percent to a quarterly record $122 million as compared with $88 million last year.
Selling, general and administrative expenses in the quarter remained constant at 27 percent of total revenues and included $11 million of restructuring and acquisition-related costs. After adjusting for these costs, SG&A was 24 percent of total revenues in the current period, down from 27 percent last year.
Research and development expenses (“R&D”) remained constant at 11 percent of total revenue.
Operating income decreased 8 percent to $60 million as compared with $65 million last year. Adjusted Operating Income increased by 43 percent to a record $92 million. Adjusted operating margin increased to 27 percent from 24 percent last year.
For the full year revenue from electronic gaming machines represented 32 percent of the total revenue, gaming operations 33 percent, systems 27 percent and table products 8 percent.
Bally CEO Richard Haddrill said, "Strong demand for our newest cabinet, the Pro Wave, helped grow domestic new unit sales by 18 percent over the previous quarter. We continued to deliver new and exciting titles such as Titanic that drove our WAP revenue to record levels. Our Systems technology continues to present a compelling value proposition to our customers as evidenced by another year of record revenue.”
International new unit sales received a 25 percent boost from Bally's acquisition of SHFL Entertainment, and Hadrill noted that recent social casino acquisition Dragonplay is already strengthening Bally's presence in the fast-growing social and mobile gaming platform sector.

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Gambling News :

FanDuel adds English Premier League action - Daily fantasy sports operator FanDuel, which is now additionally active in the UK market, has announced the inclusion on its roster of English Premier League action, with associated contests scheduled for roll-out next week.

Fortuna Entertainment Group in deal with Czech Football Association - Online gambling operator Fortuna Entertainment Group Nv has announced a sponsorship deal for an undisclosed consideration with the Czech Football Association (FAČR), effective from the 2018-19 season for six years.

Paddy Power and Inspired in Deal - The new agreement sees Paddy Power join a roster of other Inspired HTML 5 clients that includes William Hill, Gala Coral, Bet365 and Betfred.

Martin Crowley DraftKings Collusion Charges Dismissed - Our readers may recall a story that surfaced last month in which allegations were made that there was suspected collusion in a million dollar fantasy sports competition at DraftKings.

BeBetway British Horse racing Authority Authorized Betting Partner - Online gambling operator Betway has become the latest bookmaking firm to agree to voluntary payments over the next three years to the British Horse racing Authority in return for accreditation as an Authorized Betting Partner.

Coral Q4-2016 earnings reports - Ahead of its forthcoming merge with Ladbrokes, the online and land gambling group Coral published its Q4-2016 financial numbers Thursday, detailing the twelve week period ended September 25 2016.

Unibet in cooperation with - Online gambling operator Unibet Group has signed a cooperation agreement with the FIFA subsidiary Early Warning System GmbH (EWS).

Kiron Interactive in deal with Digitain - The online gambling expo and conference EiG 2016 has enabled two online gambling companies to come together in a commercial deal; specialist virtual games supplier Kiron Interactive has inked an agreement to distribute its virtual games via Armenia’s Digitain.

2016 World Poker Tour-best bet Bounty Scramble - That calmness and discipline not only kept Panzica in the game, but began to grind down Malones advantage, aided by some fortunate double up opportunities.

GLOBAL SPORTS BETTING WORTH $253.3 BILLION BY 2020 - Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”

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