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Bally Technologies has finished their $1.3 billion acquisition of Shuffle Master with a $23.25 per share stock purchase and assumption of extra debt. Bally, of course, have been around for years (since 1932) and was an early manufacturer of pinball machines before stepping into slot machines. The Bally Money Honey slot machine of the 1960's introduced the arena to a sleek, streamlined electro-mechanical slot machine with a hopper in a position to making payouts in a fashion different that traditional slot machines and enabled Bally to become the biggest slot manufacturer within the world.
Shuffle Master, which became SHFL Entertainment last year, was started in 1983 by John Breeding who developed an automated shuffle machine after which marketed "Let it Ride" to force using his shufflers. The corporate had revenues of just below $250 million last year. Gavin Isaacs, a former Bally Technologies executive, was named CEO in March 2011
Bally has a track record of buying competing and new-innovation gaming-related companies and had revenues of just over $1 billion last year. Both companies have their home offices in Las Vegas. Shares of Bally Technologies are on a major upward trend, up 60 percent for the year and currently trading at $72.25 per share. FWIW, I own no shares of either company. Bummer.
On the casino front, the casinos in Downtown Las Vegas remain the educational ground for brand spanking new "field trial" games. The D had Double Up recently, certainly one of two new table games called Double Up, each played with a single deck. One is more like traditional blackjack, aptly called Double Up Blackjack, and the opposite is solely a point-total game. Check them out and you will find you prefer the progress new games are making.
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Read More... [Source: About.com Casino Gambling]
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