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April 19, 2014

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Bally credits Betty Boop with helping set record earnings

Image

Steve Marcus

Amanda McIlvaine, dressed as Betty Boop, poses by a Betty Boop Fortune Teller video slot machine in the Bally Technologies booth during the first day of the Global Gaming Expo (G2E) convention at the Sands Expo Center Tuesday, Oct. 4, 2011.

Bally Technologies can thank Betty Boop for record-setting earnings the past three months.

Partly boosted by the Betty Boop Fortune Teller game, revenue for the second quarter of fiscal 2013 prompted the Las Vegas slot machine manufacturer to raise its own predictions for the rest of the year, officials said in a report to stockholders this afternoon.

Bally anticipates the trend will continue with more titles rolling out this quarter.

“Our pipeline of new, premium titles continue to be very strong,” said Ramesh Srinivasan, Bally’s president and chief executive officer, told investors. “We expect fiscal 2013 to be our best year ever.”

Among Bally highlights for the second quarter of fiscal year 2013:

• Total revenue increased 13 percent to $238 million, a second-quarter record, jumping from $210 million last fiscal year.

• Quarterly net earnings also set a company record of $81 million, a 21 percent increase over the previous year’s same quarter.

• Earnings for stockholders soared 48 percent, from 54 cents to a second-quarter record 80 cents. That caused Bally to raise its expectations for its annual earnings from $3.20 to $3.40 per share.

The company said Betty Boop, paired with continued popularity of the Michael Jackson- and Grease-themed slots, helped push revenue. Officials say they expect the recently released Pawn Stars machine and the coming launches of Tiki Magic and NASCAR games to help drive earnings the rest of the year.

“Our future is very bright,” said Richard Haddrill, chairman of the board.

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