Bally Technologies
This article is about the current gaming company based in Las Vegas. For the original company based in Chicago, see Bally Manufacturing.
Bally Technologies, Inc. is an American manufacturer of slot machines and other gambling technology based in Enterprise, Nevada. It is owned by Scientific Games Corporation.
The company was founded in as Advanced Patent Technology. It eventually changed its name to Alliance Gaming and in acquired Bally Gaming International, a former division of Bally Manufacturing. Inthe entire company adopted the Bally name.
Scientific Games acquired the company in Today, Bally constitutes one of the four brands of Scientific Games, along with SG, WMS and Shuffle Master.[4]
History[edit]
Advanced Patent Technology[edit]
Advanced Patent Technology was founded in by Jack Solomon and Alvin Snaper,[5] entrepreneurs who held patents in fields including medicine, optics, and electronics.[6] The company's stock was publicly offered the next year.[7] Its first 12 years were spent in the development stage.[5] It boasted a portfolio of over 80 patents,[8] but generated considerable publicity for five in particular: an ultrasonic fluidic fuel system for combustion engines, an ultrasonic endodontics device, a "louvered television screen", an ultrasonic meat tenderizer, and an ultrasonic dry cleaning machine.[9]
Entry into gaming[edit]
Advanced Patent made its move into the gaming industry inacquiring United Coin Machine Company, one of the largest slot route operators in Nevada,[9] and announcing plans for the Colorado Belle hotel and casino in Laughlin, the first of a series of hotels to be built in the Las Vegas area.[10] An obstacle arose in July in the form of an SEC investigation, alleging inadequate financial disclosure and sale of unregistered stock.[11] Under scrutiny from the Nevada Gaming Commission, Solomon was forced to step down as chairman, The Lady of Wallstreet Slots Machine, as a condition of licensing for the casino.[12] Three new directors were added in November to the company's board as part of a settlement under discussion with the SEC,[13] but by Marchregulators still had questions about the company's public disclosure, and trading in the stock was suspended for 10 days.[14] The SEC investigation ended in with no further action against the company,[15] while Solomon personally agreed to an injunction against any further securities violations, rather than fighting charges that he illegally sold stock in the company between and to raise money for its gaming ventures.[16]
A management shake-up in the wake of the SEC probe saw C. Richard Iannone installed as president in [17] According to Iannone, he was told the company "won't last six months", but he cut expenses and restructured debt, effecting a turnaround by [6] The company changed its name to Gaming and Technology Inc. in March to better reflect its focus.[18] The Colorado Belle, described as unprofitable,[6] was sold the following year to Circus Circus Enterprises for $4 million.[19]
Cal Omega takeover[edit]
On January 1,the company merged with Omega Enterprises, a manufacturer of video slot machines through its Cal Omega subsidiary, in a "reverse acquisition".[20] Gaming & Technology acquired Omega's assets, and Omega's shareholders received % of the company's stock.[21] One of Omega's owners, Alfred Wilms, was named CEO of the combined company.[6]
Bymachine sales were in a slump, and slot route operations accounted for 80 percent of the firm's revenue, so the Cal Omega plant in Carlsbad, California was closed.[22] The company changed its name again into United Gaming Inc., acknowledging United Coin as its principal asset.[23]
InUnited outlined a plan to become a major casino operator.[24] It opened a $40 million line of credit to finance the construction of five mini-casinos.[25] It partnered with the developer of the under-construction Chaparral Casino to build and operate the property's casino and dining facilities,[26] and with another developer on the planned Double Eagle hotel and casino.[27] It leased the casino at the Mizpah Hotel in Tonopah, Nevada,[28] bought the Plantation Casino in Sparks, Nevada for $ million,[29] and opened two small casinos in Downtown Las Vegas, Miss Lucy's[27] and the Trolley Stop.[30] Wilms pumped more money into the company, investing $10 million in June to raise his ownership stake to 54 percent.[31]
The company began restructuring its operations in summer [32] It abandoned the Double Eagle project after its development partner ran into financing difficulty,[30] and withdrew from the The Lady of Wallstreet Slots Machine project because of its own financing problems.[33] By the winter, it was missing payments to its creditors,[32] but a debt restructuring was achieved in September [34] United closed Miss Lucy's Casino in February [35]
InThe Lady of Wallstreet Slots Machine, United Gaming expanded to Louisiana, where video poker had been legalized the year before.[36] In August, it began operation of machines at two race tracks, the New Orleans Fair Grounds and Jefferson Downs, and their eight off-track betting parlors.[37][38] United also planned to install 1, machines at bars and truck stops in the state.[37]
Kirkland-Fort Worth takeover[edit]
InUnited Gaming and Wilms reached an agreement with Kirkland-Fort Worth Investment Partners, a group affiliated with Texas investor Richard Rainwater, for a $5 million investment in exchange for 11 percent of the company.[39] Wilms owned 62 percent of the company, but agreed to give up control to Kirkland, allowing them to name 4 of the 7 directors, in exchange for the investment.[39] Concurrently, the company sold $85 million in convertible debentures.[39] Rainwater outlined a plan to "become a really large factor" in the gaming industry, looking for bargain-price casinos "in every jurisdiction".[40]
Rainwater's level of involvement in United became a matter of some dispute. After George W. Bush's ties to Rainwater, a fellow member of the group that owned the Texas Rangers baseball team, became a campaign issue in the race for governor because of Rainwater's involvement in gambling, Kirkland head Joel Kirschbaum described Rainwater's interest in the company as "passive".[41] But a later lawsuit by Bally Gaming alleged that United admitted downplaying The Lady of Wallstreet Slots Machine level of control because Major League Baseball frowned on team owners being involved in the gaming industry.[42]
Within months of the Kirkland investment, United partnered in a bid for a gaming license in Evansville, Indiana, to build the River City Casino,[43] was in discussions to acquire a stake in the under-development Diamond Jo Casino in Dubuque, Iowa,[44][45] agreed to buy a 45 percent stake in the under-construction Rainbow Casino in Vicksburg, Mississippi,[46] and agreed to invest $20 million for a 43 percent stake in Capital Gaming International, which was developing casinos with various Indian tribes and the Crescent City Queen casino in New Orleans.[47]
The company came under scrutiny in November for its relationship with Antoine Saacks, Assistant Superintendent of the New Orleans Police Department, who had worked as a consultant for United's video poker operation in Louisiana. Saacks was suspended and later fired for violating a department policy against officers working for video poker companies, and for his connection to Frank Caracci, a nightclub owner tied to the New Orleans crime family.[48][49] A week after the scandal broke, the company pulled out of its deal with Capital Gaming; United said the timing was coincidental, but a Capital Gaming insider said the situation could impact licensing of the New Orleans casino.[50]
In Sun Palace Casino BonusesUnited bought 90 percent of USA Gaming of Native America, which had gaming development agreements with four Indian tribes.[51] In June, United formed a joint venture with Casino Magic to build and operate a casino at Camptown Greyhound Racing in Frontenac, Kansas.[52] In July, United agreed with Lone Star Casino Corp. to invest $15 million for a 50 percent stake in the Pine Hills Casino to be built in Bay St. Louis, Mississippi.[53]
Some plans did not pan out. In August, the River City Casino group withdrew its bid after receiving low marks from a local evaluation panel.[54] The company announced plans in September to wind down some of its smaller operations, closing the Trolley Stop in Decemberending the Mizpah The Lady of Wallstreet Slots Machine lease in Apriland selling the taverns it had acquired in the course of slot route operations.[55] In December, the company decided, after performing due diligence, not to make an offer for the Diamond Jo.[56]
With Kirkland's backing in place, analysts expected the company to execute a major merger.[57] United was cited as a possible suitor to buy Casino Magic,[58]Caesars World,[59] or Circus Circus.[60]
In DecemberUnited changed its name to Alliance Gaming Corporation, to reflect the company's "revitalization and redefinition".[61]
Bally Gaming acquisition[edit]
Alliance began seeking ways to apply its marketing strength in the equipment business. Company executives felt there was a market opportunity in new riverboat and Indian casinos, where a slot maker could compete for "shelf space" without having to convince casino managers to switch from machines built by IGT, the market leader with a 70 percent share.[62] CEO Steve Greathouse felt that machines could be made more fun, more interactive, and therefore more profitable, in contrast with IGT, whose executives believed that slot gamblers were "not playing to be entertained".[62] Starting from scratch against such a dominant competitor was daunting though, The Lady of Wallstreet Slots Machine, so Alliance looked for an acquisition, The Lady of Wallstreet Slots Machine. The natural choice was Bally Gaming International, the number two player with a 15 to 20 percent share.[62]
Kirschbaum had contacted Bally Entertainment about a merger as early asbut The Lady of Wallstreet Slots Machine CEO rebuffed him because of Alliance's heavy debt load and lack of earnings, suggesting they "develop their company a bit".[63] Talks began again in Octoberuntil Alliance broke them off in February [63] Bally reached out to Alliance the next month through Rainwater, who discussed possibilities including a three-way merger with Autotote, a maker of lottery and pari-mutuel wagering technology.[63]
In Junewith Bally already considering a buyout offer from WMS Industries, Alliance made an unsolicited offer of $ million in cash, stock, and assumed debt.[64] Days later, Bally's board of directors accepted WMS's offer of $ million in stock, conditioned on Bally selling its German subsidiary, Bally Wulff, for at least $55 million.[65] Bally called Alliance's offer "illusory and highly conditional" on financing,[66] and said that WMS stock would give shareholders more long-term value than Alliance stock,[67] and that a combination of Alliance and Bally would be so undercapitalized as to raise licensing concerns among gaming regulators.[68]
Alliance undertook a hostile takeover effort,[69] suing to block the WMS merger, announcing a tender offer of up to $55 million for million shares of Bally, enough to give it a controlling interest,[66] and seeking consent from Bally's shareholders to replace a majority of the board.[70] Bally and WMS fired back with separate lawsuits seeking to block Alliance's tender offer.[71] Alliance raised its offer to $70 million for million shares,[72] and WMS, in turn, raised its total bid to $ million.[73] In October, Alliance announced that it had been tendered million shares,[74] and alleged that Bally and WMS had reached an impasse over Bally's failure to find a buyer for Bally Wulff.[75] The next day, Bally's board capitulated, canceling the deal with WMS and approving a merger with Alliance on terms similar to those of the tender offer, with a total value of $ million.[76]
After the two companies agreed to revise the deal down to $ million to ensure the combined company would have enough cash to grow,[77] and Alliance raised $ million in financing,[78] the acquisition was completed on June 18, [79] Bally was organized as three divisions within Alliance Gaming: Bally Gaming, which made slot machines, Bally Systems, which made casino accounting and management systems, and Bally Wulff. Bally Gaming and Systems were combined into a single unit in [80]
InBally launched Thrillions, a wide-area progressive jackpot system,[81] as part of a strategy to focus on games to be installed on a revenue-participation bonus instead of being sold outright to casinos.[82] The game initially launched with a Betty Boop theme, and later added variants based on Blondie[83] and Popeye.[84]
This period also saw the introduction of the EVO VIDEO game platform and the EVO 3, which was created in partnership with Microsoft.[85][86][87]
The company began seeking buyers for its slot route and casino operations in lateThe Lady of Wallstreet Slots Machine, to narrow its focus on gaming technology.[88] After six months, no acceptable bids were received for the Rail City and Rainbow casinos.[89] An agreement was reached to sell United Coin to a pair of Iowa riverboat casino operators for $ million,[90] but Alliance backed out of the sale a year later because of increased profits at the subsidiary.[91]
The s[edit]
Bally took the publicly traded company from the brink of NASDAQ delisting in to record revenues and profits just two years later. On December 12,Alliance Gaming moved from NASDAQ to the New York Stock Exchange, trading under the ticker symbol “AGI”.
The effort to divest non-core assets resumed in Julywith agreements to sell United Coin for $ million to Century Gaming, the largest slot route operator in Montana,[92] Bally Wulff for $ million to German company Orlando Management, and Alliance's 49 percent The Lady of Wallstreet Slots Machine in the Louisiana video poker operation to New Orleans-based Gentilly Gaming.[93] In December, Alliance agreed to sell the Rail City casino to Sands Regent for $38 million.[94]
Meanwhile, Alliance considered acquiring Multimedia Games, The Lady of Wallstreet Slots Machine, a leading maker of Class II machines for Indian casinos and bingo halls, but the asking price was too high.[95] Instead, the company in acquired Sierra Design Group for $ million,[96] giving it a strong entry into the markets for Class II machines, video lottery New Infographics by 777spinslot.com!, and centrally linked progressive machines for Washington state.[97][98]
Determining that its Evo platform lacked the horsepower to produce satisfying video games,[99] Bally re-engineered its entire line of video and reel-spinning slot machines. Alpha, its new platform based on Sierra's operating system,[99] dramatically improved Bally's entire portfolio of games, leading to the release of Hot Shot Progressives, a new series of video and reel machines. Overtaking the Blazing 7s line, Hot Shot Progressives quickly became the company's biggest seller and the most successful product launch in the company's history. Bally also introduced several new gaming platforms, including the V20 upright, the dual-screen V20/20 video slot, the S9E reel-spinner and the CineVision wide-screen video gaming device. As of Julymore than casinos worldwide utilize Bally systems products running on more thanslot machines.
InAlliance changed its name to Bally Technologies, Inc., discontinuing the use of Bally Gaming and Systems as a subsidiary, to present a unified identity.
InBally celebrated the 75th anniversary of the Bally trademark with a series of special customer events in Atlantic City, Las Vegas, and Chicago. Also, the company commissioned Christian Marfels, author of the book Bally - The World's Game Maker[] to write an updated second edition,[85] a copy of which was given to every Bally employee.
InBally opened a new European sales/service hub in Amsterdam. It also operates two research and development centers in Chennai and Bangalore, India, employing approximately people.
InBally acquired CoolSign, a multi-media management tool, from Planar, The Lady of Wallstreet Slots Machine. And, inthe company's iVIEW Display Manager won Casino Journal Magazine's Platinum Award for the "Top 20 Most Innovative Gaming Technology Products of "
On the games side, in andThe Lady of Wallstreet Slots Machine, Bally released a number of new gaming products, including its new Digital Tower Series, whose games feature dynamic, interactive and animated top-box displays. Additionally, in the company released its new "Jumbo" cabinets, which measure nearly eight feet high by over three feet wide. In lateBally displayed their new Pro Series V22/22 upright and Pro Series Slant Top slot featuring a 22" game display and a 26" top display. Bally engineered reduced power consumption in these new platforms. Bally also developed Ultimate Texas Hold'em in [][]
InBally sold the Rainbow Casino to Isle of Capri Casinos for $80 million.[]
On November 25,Bally acquired SHFL entertainment, a global gaming supplier operating in five primary categories: Utility products (including Deck Mate card shufflers and roulette chip sorters), proprietary table games, electronic table systems, electronic gaming machines (including video slot machines) and iGaming.[]
InBally won four awards in the 'Slot Floor The Lady of Wallstreet Slots Machine Awards' as well as earning two spots in the annual ‘Top 20 Most Innovative Gaming Technology Products' awards.[][]
In AugustBally agreed to be acquired by Scientific Games, maker of lottery and sports betting equipment, for $ billion plus $ billion in assumed debt.[] The acquisition was completed on November 21, [] Today, Bally constitute one of the four brands of Scientific Games, along with Longhorn Jackpots Slots Machine, WMS and Shuffle Master.[4]
Today[edit]
Bally Technologies is focused on the casino gaming industry. Acquisitions of such companies as Casino Marketplace, MindPlay and Advanced Casino Systems Corporation (ACSC) have allowed the Bally Systems division to increase its share of the rapidly expanding slot accounting market. However, the Legacy Unix SDS slot system is still the industry standard. The company’s past systems acquisitions include the former Honeyframe, Ltd. of Telford,Bally MultiConnect (BMC) is a distributed Enterprise-Wide Slot Management System designed for multi-property organizations. Centralized accounting and analysis functions are available together with asset management that allow your operations department to have complete control and a single view of the entire gaming operation, England and Micro Clever Consulting (MCC) of Nice, France.[85] Both companies offer scalable suites of slot accounting and casino management systems.
The company's current executive management team consists of:[]
- Kevin M. Sheehan, president and chief executive officer
- John Connelly, senior vice president of business development and interactive
- Neil Davidson, The Lady of Wallstreet Slots Machine, senior vice president, chief financial officer (CFO) and treasurer
- Adrian Halpenny, senior vice president of Australia and Europe
- Bryan Kelly, senior vice president of technology
- Katie Lever, senior vice president and general counsel
- Derik Mooberry, senior vice president of games, table-game products, and interactive research & development
- Robert Parente, senior vice president of North American sales and corporate marketing
- Sethuram Shivashankar, senior vice president of IS/IT and systems research & development
The company's current board of directors consists of:
- Richard Haddrill, chairman of the board
- Robert L. Guido, director
- David Robbins, director
- Joseph Linden, director
- W. Andrew McKenna, director
- Michael Klayko
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- ^"Archived copy". Archived from the original on Retrieved : CS1 maint: archived copy as title (link)
- ^"Bally Technologies Wins Six Innovation Awards Company earns four of 10 'Slot Floor Technology' Awards, two honors in 'Top 20 Most Innovative Gaming Technology Products' Awards". MarketWatch. Retrieved 24 February
- ^"Bally Technologies Wins Six Innovation Awards". The Herald Online. Archived from the original on 28 February Retrieved 24 February
- ^Howard Stutz (August 1, ). "Scientific Games to buy Bally in $ billion deal". Las Vegas Review-Journal. Retrieved
- ^Howard Stutz (November 21, ). "Scientific Games completes $ billion acquisition of Bally". Las Vegas Review-Journal. Retrieved
- ^Senior Leadership, Scientific Games
External links[edit]
Wall Street Slot Game Review
There are lots The Lady of Wallstreet Slots Machine the interesting slots on the Tom Horn list of the casino games. Wall Street free online slot machine will take you to the famous financial market situated in New York! The slot comes with 5 reels, 15 pay lines, and 3 rows. Play Wall Street slots game and earn the money on the biggest financial market in the world!
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