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More profits for Bally-Scientific Games Merger
Thursday September 4,2014 : GREAT EXPECTATIONS FOR SCIENTIFIC GAMES - BALLY TECH MERGER (Update)
More revenue and profits through simple synergies.
The forthcoming merger of Scientific Games Corporation with Bally Technologies will deliver more revenue and profits, much of it through early and easily achieved synergy gains, Scientific Games has asserted in a filing with the U.S. Securities and Exchange Commission this week.
The two companies are among the gaming and lottery industry leaders, and the merge will deliver a company second only to the merged GTech and IGT corporates, offering a wide range of products across land and online channels and technologies.
The filing on September 3 posits synergy savings alone of $220 million - 11 percent of total costs in the 2 companies - most of that being quickly and simply accrued within the first year of combined operations.
Unfortunately, that will entail staff cuts of up to 21 percent, whilst savings through synergy in research and development are also envisaged
The filing also details one-off merger costs of $76 million for synergies and $40 million for capex.
Revenue and gross margins are expected to grow in FY14 for table products, interactive games, instant products, but to decline in systems, and lottery systems, the SEC presentation suggests.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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