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Bally Technologies announces year-on-year results

Online and land-based casino games developer Bally Technologies announced its year-on-year results and the figures showed positive reading.

Total revenues for the company over the past three months witnessed a year-on-year increase of 15% to $245.8 million in an encouraging showing for the firm that is now looking to take advantage of online gambling being imminently legalised in the US, particularly in Nevada after the Nevada Gaming Commission approved Bally Technologies’ licence application last month.

The figures also showed that Bally Technologies saw a 22% year-on-year increase for its adjusted earnings before tax, interest and depreciation to $81.8 million. It also saw a decrease of 2% in its selling and general expenses.

Bally Technologies confirmed that its total revenues for the past 12 months had seen an outstanding year-on-year increase of 100% to $879.8 million. The adjusted earnings before tax, interest and depreciation over the past 12 months saw a year-on-year increase of 16.3% to $282.5 million.

CEO for Bally Technologies Richard Haddrill said “Our fourth quarter and fiscal 2012 results validate our leadership position in gaming technology innovation. This innovation leadership and visibility into further growth opportunities for all of our businesses for fiscal 2013 and beyond is tremendously encouraging.”

Bally Technologies declared that it had seen an increase in quarterly revenues across every sector of the firm. Its gaming equipment section was profiting the most with a 39% year-on-year increase to $96.8 million.

Ramesh Srinivasan, President and Chief Operating Officer for Bally Technologies, stated “We increased the Cash Connection wide-area progressive installed base by almost 500 units in the fourth quarter including additional installations of Grease and the recently launched Michael Jackson: King Of Pop to much-deserved excitement from the marketplace.”