U.S. Slot machine maker Scientific Games Corp will purchase larger rival Bally Technologies Inc in a $3.27 billion deal, the latest in a consolidating U.S. gaming industry.The deal, which was put together in just over three weeks, will strengthen Scientific Games' casino management systems and table gaming products as well as help it expand in Australasia.A new generation of gamers who prefer to make bets online have left U.S. slot machine makers questioning their own relevance. They also face increased competition as their core lower-income gambler base keep a tight lid on spending.Credit rating firm Moody's downgraded its outlook for the U.S. gaming industry in June to "negative" from "stable".
Bally Technologies, Inc. (Bally) is a global gaming company, which designs, manufactures, operates, and distributes advanced technology-based gaming devices, systems, server-based solutions, custom mobile applications, and interactive applications. Shares of BYI traded higher by 29.46% or $17.725/share to $77.90. In the past year, the shares have traded as low as $56.50 and as high as $82.67. On average, 678820 shares of BYI exchange hands on a given day and today's volume is recorded at 12400854.
Scientific Games Corporation (Scientific Games) is a global supplier of solutions to lottery and gaming organizations worldwide. Shares of SGMS traded higher by 1.29% or $0.11/share to $8.65. In the past year, the shares have traded as low as $8.28 and as high as $19.48. On average, 1149050 shares of SGMS exchange hands on a given day and today's volume is recorded at 9780435.
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