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MarketScreener Homepage  >  Equities  >  Nyse  >  Bally Technologies Inc.    

BALLY TECHNOLOGIES INC.

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BALLY TECHNOLOGIES : to Acquire Sightline Payments

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03/03/2011 | 04:05pm EDT

Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management, and networked and server-based systems for the global gaming industry, today announced it has entered into a definitive agreement to acquire Las Vegas-based Sightline Payments, a provider of innovative payment solutions.

Bally Technologies' CEO Richard Haddrill. (Photo: Business Wire)

Bally Technologies' CEO Richard Haddrill. (Photo: Business Wire)

Bally's Chief Executive Officer, Richard Haddrill, said, ?Sightline Payments is our latest strategic investment and continues to show our commitment to a comprehensive system product offering. Payment systems and gaming systems will continue to converge and incorporate privatized currency capabilities currently available in retail and online.?

?Our iVIEW? network has been architected to serve customers at any point of play or point of purchase, and the addition of Sightline's product offerings to these distribution channels will make for a powerful suite of products for our customers,? Haddrill added.

?Sightline and Bally belong together,? said Kirk Sanford, Chief Executive Officer, President, and Founder of Sightline Payments. ?We know Bally's unique capabilities, and now is the right time to combine both companies. Because of our shared vision of the future of payment services in gaming, we are on the verge of launching some very exciting cashless gaming products that we think can change the gaming payments industry in meaningful ways for our customers.?

Sightline Payments will remain in Las Vegas, and brings to Bally significant gaming and payment industry experience from Kirk Sanford, Tom Sears, and Diran Kludjian.

Payment processing will be a new product line for Bally, adding a comprehensive line-up of Sightline Payment products. Many of Sightline's cutting-edge payment system solutions will be on display next week at Bally Technologies' Systems User Conference 8 at Pechanga Resort & Casino in Temecula, Calif., including some of their offerings listed below:

  • MobileFunds?: An industry first, PCI-compliant end-to-end NFC (Near Field Communication) and web-based mobile phone payment solution with pre-funded mobile wallet and pre-paid card functionality.
  • SmartAdvance?: An industry first and patent pending unique ?no-fee? transaction program that drives material revenue increases and reduced costs to a casino operator.
  • Check Warranty?: In partnership with a leading check warranty provider, this gaming-centric check guarantee product results in more checks accepted.
  • Redemption7X?: An integrated hardware and software solution which supports Bally's iVIEW Display Manager? (DM) player-user-interface, ticket-redemption, bill-breaking, ticket printing, ATM, cash advances, and check cashing all in one device.
  • ATM3X?: An integrated hardware and software solution which allows casino patrons to perform ATM withdrawals and debit or credit-card transactions.
  • SmartStation?: A rich transaction delivery system for cage operations which allows cashiers to quickly and efficiently complete multiple payment services.

About Bally Technologies, Inc.

With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. Bally's product line includes reel-spinning slot machines, video slots, wide-area progressives, and Class II, lottery and central determination games and platforms. As the world's No. 1 gaming-systems Company, Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions. For more information, please contact Laura Olson-Reyes, Director of Corporate Communications, at 702-584-7742, or visit http://www.ballytech.com.

This news release may contain ?forward-looking? statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements. Future operating results may be adversely affected as a result of a number of risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information in this press release and represents that the information is only valid as of today's date.

– BALLY TECHNOLOGIES, INC. –

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6634585&lang=en

Bally Technologies, Inc.
Laura Olson-Reyes, 702-584-7742
Director of Corporate Communications
Lolson-reyes@ballytech.com
Michael Carlotti, 702-584-7995
Vice President of Treasury and Investor Relations
mcarlotti@ballytech.com


© Business Wire 2011
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Managers
NameTitle
Derik Jon Mooberry President & Director
Bryan M. Kelly Senior VP-Technology & Networked Gaming
Sethuram Shivashankar Senior Vice President-Information Technology
Michael Alan Quartieri Secretary, Treasurer & Director
John J. Connelly Senior VP-Business Development & Interactive
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