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BALLY - SCIENTIFIC GAMES MERGERS COMPLETED

Sunday November 23 ,2014 :  BALLY - SCIENTIFIC GAMES MERGERS COMPLETED (Update)
 
Executive leadership team announced after completion of $5.1 billion merger.
 
Scientific Games Corporation announced Friday that it has completed the $5.1 billion merger with Bally Technologies. 
 
"Completing the Bally transaction brings together two exceptional organizations with a common culture of innovation and customer focus," said Gavin Isaacs, president and chief executive officer of Scientific Games.
 
"We are excited by the opportunities that will be created by combining each organization's core strengths in developing engaging gaming entertainment products, advanced technologies and systems, and providing value-added services to help our customers grow their revenues."
 
"Our mission is to become the premier gaming and lottery entertainment and technology company in the world by offering gaming and lottery operators a comprehensive and differentiated portfolio of high earning, player-appealing games and technology solutions," Isaacs continued.
 
"By leveraging our excellence in the development of imaginative gaming entertainment with value-added services, we seek to become the partner of choice for our gaming and lottery customers. Further, by pursuing continuous improvement in our business processes, we expect to enhance our margins, grow free cash flow to reduce our debt, and build long-term value for our stockholders."
 
Isaacs also announced the new executive leadership of the company, which will oversee an organisation comprising three operating units: Gaming, Lottery and Interactive.
 
In addition to president and CEO Gavin Isaacs and executive VP and CFO Scott Schweinfurth, the executive leadership team of Scientific Games will include:
 
Derik Mooberry, Group CEO, Gaming
 
Mooberry, with more than 20 years of gaming industry experience, was most recently Senior Vice President of Games, Table Game Products and Interactive Research & Development at Bally.  He also oversaw Bally's business in Mexico and South America.
 
Under Mooberry's leadership, the company's Gaming group will comprise the WMS, Bally, SHFL and Scientific Games gaming businesses that serve casino and other gaming operators worldwide.
 
James Kennedy, Group CEO, Lottery
 
Kennedy, with nearly 30 years of lottery industry experience, will continue to serve as Group Chief Executive, Lottery.  He previously served as President, Printed Products, and Chief Marketing Officer for the Company.
 
Kennedy will lead the Lottery group, which will comprise the existing Scientific Games lottery operations, including its Instant Products, Lottery Systems, Interactive Lottery and MDI businesses that serve lottery operators worldwide.
 
Jordan Levin, President, Interactive
 
Levin has served as Managing Director, Williams Interactive at Scientific Games since January 2014, having previously been Chief Operating Officer of Williams Interactive, a subsidiary of WMS Industries Inc. (acquired by Scientific Games in October 2013).  Prior to that he was WMS' Vice President of Business Development.
 
Levin heads up the Interactive group comprising the Scientific Games and Bally interactive social gaming operations, including Jackpot PartyTM Social Casino, Gold FishTM Social Slots, DragonplayTM Slots, and DragonplayTM Live Hold 'Em Poker, and the Williams Interactive, Bally and SHFL real-money online gaming businesses.
 
All three will report directly to Isaacs.
 
"Our new senior management team comprises some of the most accomplished executives in the gaming, lottery and interactive industries," said Isaacs.
 
"Our new organizational structure will focus on driving consistent and measurable progress on our goals of increasing profitable global growth and increasing free cash flow to pay down debt.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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