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Record Revenues for Bally Technologies
Thursday August 28,2014 : RECORD ANNUAL REVENUES FOR BALLY TECH
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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Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
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PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
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NHL Predators First Ever Conference Finals Appearance -
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The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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