Slot gaming expert Bally Technologies, Inc is holding a special meeting for shareholders on 18 November to vote on the proposed merger into Scientific Games. The deal will see Bally continue as a wholly owned subsidiary of Scientific Games.
The merger, which is expected to be completed by the end of calendar 2014, is subject to the approval of a majority of the outstanding shares of Bally’s common stock and the receipt of required gaming approvals, in addition to other customary closing conditions.
When the deal was announced in August, Richard Haddrill, Bally’s Chief Executive Officer, commented: “The combination with Scientific Games will benefit our customers and shareholders. Increased scale, geographic diversity and product development capabilities will create a new runway of growth opportunities through new products and a comprehensive portfolio of customer-focused solutions. This transaction delivers immediate value to our shareholders, and the highest share price in our history. We look forward to working with our new colleagues at Scientific Games to execute a detailed integration plan to realise customer satisfaction and additional value.”