Bally reports fourth consecutive rise in gaming revenues
Gaming operations revenues up 10% to record $171.2m " total revenues up 15%
Bally Technologies has reported a fourth consecutive rise in gaming operations revenue in its results for the six months ending 31 December.
Gaming operations revenues increased to a record $171.2m as a result of an increase in the number of games installed, including some in Resorts World New York, which opened in October last year.
The company saw total revenues rise 15% to $405.4m, up from $353.5m in 2010, with adjusted EBITDA increasing 10% to $126m in the same period. Operating income was also up 15% to $80m, while selling, general and administrative expenses (SG&A) fell to 29% of total revenues, despite rising to $12m as a result of regulatory, legal and infrastructure costs, and an increase in the payroll.
Gaming operations revenues also rose for the period from 30 September to 31 December, up 12% year-on-year from $77m to $86m – 41% of the group’s total revenues of $210m for the three months.
Group CEO Richard M Haddrill, who was elected president of the American Gaming Association (AGA) in January, was also keen to attribute the revenues to the company’s gaming products: “Our recent innovations have resulted in four consecutive quarters of year-over-year revenue and earnings-per-share growth. Numerous of our investments of recent years are now producing good results,” Haddrill said.
The company is in the process of developing an online division, covering Bally’s online, mobile and social gaming divisions, announced in October last year, with former IGT client services director Michael Probert appointed European general manager for interactive in January.
Also in January Bally agreed a strategic partnership with Slovenian IT solutions and services provider Comtrade, a deal which is expected to allow the company to push forward the launch of its online slot content.