Bally Technologies sees net income rise 32 percent

Compared with recent news surrounding its slot machine rivals, International Game Technology and WMS Industries, Bally Technologies’ second quarter earnings announcement was relatively uneventful.

Las Vegas-based Bally said Thursday its second-quarter net income rose 32 percent to $56.7 million in the quarter ended Dec. 31 from $43 million a year earlier. Earnings per share were 80 cents, up from 54 cents a year earlier.

Companywide revenues for Bally rose 13 percent to $238.3 million.

IGT is facing a proxy fight at its March 5 annual shareholder meeting over seats on the company’s board of directors. WMS announced Thursday it was being purchased for $1.5 billion by lottery provider Scientific Games Corp.

In response to a question about the WMS transaction, Bally Chairman Richard Haddrill said the company wasn’t considering any mergers or acquisitions.

“We don’t need a large deal to create shareholder value,” Haddrill said. “We have plenty of internal growth opportunities.”

Haddrill said the WMS transaction, showed the “undervalued nature of our industry sector.”

Shares of Bally closed at $48.16 Thursday on the New York Stock Exchange, up $2.64, or 5.80 percent.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.