Bally posts record Q1 revenue of US$249m
US casino supplier prepares for New Jersey launch with Golden Nugget by posting ninth consecutive quarter of growth
Bally Technologies has posted record Q1 revenues of $249m, a 6% increase on the same period last year as it prepares to launch its first real-money online gaming site in the US next month.
The gaming machine and technology supplier saw gaming operations revenues increase to a first quarter record of $102m, while revenues from systems were also up, recording a 48% increase to $76m compared with $51m last year.
The company, which announced in July it is to acquire fellow casino game supplier SHFL Entertainment, revealed adjusted EBITDA of $87 million, a 10% increase compared with $79m during the same period last year.
To help fund the acquisition of SHFL, Bally has amended its existing credit facility and syndicated a new $1.1bn loan.
Bally is expected to be among the first suppliers to offer online casino and poker games in the New Jersey market, which will launch next month.
Its open-architecture online gaming platform, acquired from Chiligaming in February 2012, has attracted a number of clients including the Atlantic City-based Golden Nugget, which has already received an operator licence in the Garden State.
CEO Ramesh Srinivasan (pictured) said the company is “well positioned” to capitalise on online opportunities in the US and beyond.
“On the interactive front, we continue to expand our presence on wager-based portals in Europe and have improved our remote gaming server technology by leaps and bounds since our initial launch a few months ago,” he said.
“We continue to make very good progress with the integration of our iGaming and mobile platforms, with our back-end core systems, getting ourselves ready for the future, where a single view of the player across all channels is going to be a crucial differentiating factor for many of our customers,” he added.