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Vera Yuan
Vera Yuan
Articles (1063) 

Mario Gabelli Comments on Bally Technologies Inc

October 28, 2014 | About:

Bally Technologies Inc. (1.4% of net assets as of September 30, 2014) (BYI)($80.70 - NYSE) is a Las Vegas, Nevada based designer and manufacturer of gaming machines and casino management systems. On August 1, 2014, the company received an $83.30 cash merger offer from New York based Scientific Games, a lottery operator and gaming machines manufacturer. The deal, which is one of several recently announced in the industry, values Bally Technologies at $5.1 billion and requires a positive vote by the majority of Bally’s shareholders as well as approval from several gaming commissions in the U.S. The transaction already received U.S. antitrust clearance and is expected to close by year end.

From Mario Gabelli (Trades, Portfolio)’s ABC Fund Q3 2014 Commentary.


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