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US – Bally sets another first quarter record

By - 4 November 2014

Bally Technologies has announced record first quarter revenue of $321m and Adjusted EPS of $1.17 for the three months ended September 30, 2014.

Total revenue increased 29 per cent to a first quarter record of $321m as compared with $249m last year.

Adjusted EBITDA increased 34 percent to a first quarter record of $116m as compared with $87m last year.

Richard Haddrill, the company’s Chief Executive Officer, said: “We were pleased by customer responses to the launch of several new products, including the Pro Wave 360° and Pro Theater, as well as our line-up of powerhouse brands including Friends and Duck Dynasty at last month’s Global Gaming Expo (G2E). During the quarter, Cash Wheel featuring Quick Hit, which was launched in September 2013, eclipsed a 1,000-unit installed base. 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. With SHFL in the mix, we grew our international new-unit sales by 168 percent, further driving our global presence. Finally, during the quarter, we announced Ontario Lottery and Gaming Corporation (OLGC) selected Bally as its central gaming management system provider, further strengthening the long-term prospects for our Systems business.”

Revenues from Electronic gaming Machines increased 32 per cent to $94m as compared with $71m last year, primarily driven by the increase in unit sales in Australia coupled with an increase in ASP.
ASP of new electronic gaming devices increased nine per cent to $17,767 per unit from $16,307 last year, primarily due to the increase in Australia sales volume and an increase in the sale of the Pro Wave premium cabinet.

New-unit sales to international customers were 44 per cent of total new-unit shipments as compared to 20 per cent in the prior year period.

Gross margin increased to 52 per cent from 50 per cent last year, primarily due to the sale of higher margin Pro Wave cabinets and geographic mix.

Revenues increased to a record $106m as compared with $102m last year, driven by continued placement of premium games, record wide-area progressive (“WAP”) revenue, and the inclusion of 2,242 leased ETS seats.

Gross margin decreased to 68 per cent from 70 per cent last year, primarily due to the inclusion of lower margin leased ETS seats.

Systems revenues were $74m as compared with $76m last year, decreasing primarily due to a large system installation recognized in the prior period offset by the inclusion of revenues from the acquisition of Dragonplay during the current period.

Table games revenues were $46m, with Utility products revenue of $31m and PTG revenue of $15m.

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