Bally Technologies CEO Richard Haddrill
Casino equipment manufacturer Bally Technologies reported a 23% decline of $28.8 million (£18 million) (2013 $37.8 million) in its net income for its first quarter fiscal performance for 2015.
During the period ending 30 September, Bally Technologies had posted record revenues of $320.8 million (+ 29% 2013: $249.3 million), with gaming operations setting an all-time quarter revenue performance of $106 million.
However net income was heavily impacted by increased costs of sales and operations which jumped 34% to $258.4 million (£162 million). Bally Technologies had seen operational costs increases throughout all its operations which impacted upon the firms operating income of $62.4 million (203: $56.9 million).
We achieved record first quarter revenue and excellent overall operational results in the quarter, driven primarily by strong electronic gaming machines and gaming operations revenue,” Chief Executive Richard Haddrill said in a statement accompanying the results.
Bally Technologies are still the subject of a potential $5.1 billion (£3.25 billion) acquisition by Scientific Games Corporations.
Last week a contingent of financing banks hired by Scientific Games Corporation which included JPMorgan Chase, Deutsche Bank and Bank of America Corp had failed to gather the $3.19 billion (£2 billion) bridging loan needed to process the acquisition.
Bally Technologies senior management did not comment on the potential acquisition by Scientific Games Corporation.
Bally Technologies Q1 2015 Fiscal Performance overview
