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Bally Technologies Great Q4-2012 Report
Saturday August 11, 2012 : BALLY RESULTS BETTER THAN ANTICIPATED
Casino equipment supplier with a penchant for online business does well in its fourth quarter
US casino equipment and content supplier - and nascent online gambling provider, given the opportunity - Bally Technologies has turned in a praiseworthy Q4-2012 report for the 3 month period ended June 2012, posting better than expected results.
Q4-2012 profit rose to $26.5 million, or 61 cents per share, from $25.5 million, or 51 cents per share, a year earlier.
Revenue rose 15 percent to a record $245.8 million, with gaming equipment revenues up 33 percent to $97 million.
Revenues for the year reached a new record of $880 million, up 16 percent, and adjusted EBITDA increased by a similar percentage to a record $282 million compared with $243 million last year.
The company confirmed that it has repurchased $106 million of its shares since March 2012.
"Our fourth quarter and fiscal 2012 results validate our leadership position in gaming technology innovation," said Richard M. Haddrill, the company's chief executive officer. "This innovation leadership and visibility into further growth opportunities for all of our businesses for fiscal 2013 and beyond is tremendously encouraging.
"During our fourth quarter we established a number of company records for revenues and profitability, prudently accrued $10 million for several legal matters," said Neil Davidson, the company's chief financial officer. "Since June 30, 2012, we purchased an additional $33 million worth of stock."
He revealed that this quarter represented the 19th consecutive quarter in which the Bally has repurchased shares.
The company has in recent months reported a series of online and mobile related partnerships that have included the implementation of a free-play e-gaming platform for Station Group's Golden Nugget Casino, a content development agreement with High5Games, and the acquisition of an intrastate online poker supplier licence from the state of Nevada
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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