PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: ChanPark

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy - Baly Technologies set to gain access to growing Asian market and expand its portfolio of product offerings with the acquisition of SHFL - ChanPark.com
Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy

 

NewswireToday - /newswire/ - Singapore, Singapore, 2013/08/14 - Baly Technologies set to gain access to growing Asian market and expand its portfolio of product offerings with the acquisition of SHFL - ChanPark.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Electronic gaming machine manufacturer Baly Technologies Inc. stated that it will purchase gaming equipment company SHFL Entertainment Inc. for around $1.3 billion in order to gain access to the thriving industry across Asia and Australia.

After the announcement, Baly shares climbed 9 percent to a record high as investors bet on the move. The acquisition will give Baly global reach and offerings that set them apart from competitors.

Up until now Baly has focused most of their efforts on the slots market, but SHFL brings electronic games, and mechanical devices needed by gaming resorts. The marriage will give Baly a complete lineup likely to significantly increase the average purchase from the company.

With a stronghold in Asia, the world’s fastest growing gaming market, Baly is poised to grow substantially from the buyout which more than justifies the 24% premium that they offered over the share value of SHFL.

“From a strategic standpoint, the partnership makes perfect sense. The companies complement each other well, and the combination of patents, largely in noncompeting segments, make for a powerhouse of a gaming equipment provider.” - Michael Webber, ChanPark International.

Around Asia, gaming is growing rapidly, as is the electronic segment of that market. Taiwan is opening its doors to the industry, and South Korea will follow soon behind. The Philippines is developing massive resorts, and smaller destinations scattered around the region make for a very large and rapidly growing market. While the United States would be expected to have the largest market, SHFL sold more to Asia and Australia in 2012 than the United States. 36% of SHFL’s total sales in 2012 were to Australia, and Baly previously had little to no exposure to it. 81% of Baly’s revenue is from the US, so access to SHFL’s Asian and Australian clients is expected to significantly increase the global sales of the Baly product lineup.

Baly, founded in Chicago as a pinball manufacturer almost a century ago, expects the deal to add to its earnings per share and free cash flow within a year of closing.

The acquisition, which includes the assumption of $8 million of debt, is expected to close by the second quarter of 2014.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: ChanPark

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Roger Gilbert - ChanPark.com 
+65 3106 2093 rgilbert[.]chanpark.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ChanPark securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From ChanPark / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

PPG Coatings Create Showpiece Finish for Carrington Livery
METTLER TOLEDO Launches New Melting Point Excellence Instruments MP55 and MP80
Frost & Sullivan Applauds Borealis’ Dedicated Efforts to Enhance its Healthcare Brand and Sustainable Growth
PPG to Highlight Automotive Coatings At 2017 NAIAS
Voith Receives Order for BillerudKorsnäs 550.000 T/y Board Machine in Gruvön, Sweden
PPG Completes Acquisition of Romanian Paint and Coatings Manufacturer DEUTEK
SWEP Introduces New High-efficiency Single-circuit Evaporator and Condenser
ITT BIW Connector Systems Introduces Tri-Lok™ Ultra Packer Penetrator for the Upstream Oil and Gas Market
European Construction Chemicals Market Leverages Local Presence and Customised Solutions to Expand Finds Frost & Sullivan
Nexans Secures Around € 300 Million Contract to Supply LV Cables for Infrastructure Projects in Qatar through its QICC JV with Al Mirqab Capital
PPG Reaches Agreement with Knauf for Sale of Plaka Plasterboard Business
Leonardo-Finmeccanica Publishes Financial Calendar 2017
Dunn-Edwards Paints Signs Merger Agreement with Nippon Paint
International Trade Commission Issues Final Determination That Umicore Infringes BASF and Argonne National Laboratory Patents
Nexans to Connect Continents to Bring High Speed Broadband to West Africa

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Intrinsic Executive Search Ltd

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)