Scientific Games and Bally Technologies are two innovative gaming companies that recently formed into one single entity and it is the direct acquisition of Bally Technologies by Scientific Games that has led to a significant growth in revenue during the 12 week period through to March 31st 2015.
Scientific Games claims that the significant progress has occurred since the Bally Technologies deal was secured. “In our first full quarter following our merger with Bally, we made significant progress in our strategies to integrate Bally operations and unify our organisation,” said the chief executive officer of Scientific Games, Gavin Isaacs.
He then went on to say “Our focus on developing new player entertainment experiences that engage players and drive growth for our customers is equally matched by our focus on realising expected integration cost savings and increasing our free cash flow. The process of integrating Bally and Scientific Games is ahead of schedule.”
Scientific Games completed the Bally Technologies acquisition towards the end of November 2014 and the full integration took effect in the first quarter of 2015. The total revenue throughout this period came to $658.7 million (€588.5 million) which is more than a $388.1 million improvement when compared to the same period as last year.
Scientific Games has taken several necessary actions to record a staggering $90 million Bally-related yearly savings through to March 2015 and the company expects to continue achieving its goals by starting new initiatives that will hopefully generate somewhere in the region of 80% of the projected $235 million of yearly cost savings. There’s also the additional $30 million worth of WMS-related annual cost savings that they hope to generate the end of the year as well.
“We are firmly focused on driving revenue opportunities enabled by leveraging the synergies created by our combined strengths in technology and product development,” added the chief executive. We managed to obtain all of these comments from a recent iGamingNews press release. The Scientific Games acquisition of Bally Technologies was worth an incredible $5.1 billion (€4.1 billion), but this also included approximately $1.8 billion of existing Bally Technologies debt.
“Completing the Bally transaction brings together two exceptional organisations with a common culture of innovation and customer focus,” said Isaacs, back in November. If you want to find out where you can find a range of Scientific Games/Bally Technologies online casino games, check out an article that was published right here on this website as recently as April 28th 2015, entitled: Bally Technologies Slots & Where You Can Find Them. Some of these perfectly secure UK gambling portals include sites like Mr Green Casino, Intercasino and bgo Vegas.
