Scientific Games’ buy-out of Bally accelerates
Scientific Games' purchase of fellow provider Bally Technologies received a boost on Wednesday as the companies received an early termination of the 'waiting period' stipulated by antitrust laws.
Termination of the waiting period satisfies one of the conditions required for completion of the transaction.
The acquisition is now expected to be completed in early 2015.
As announced on 1 August 2014, Scientific Games has agreed to acquire all of the outstanding Bally common stock for $83.30 in cash per share.
The total value of the deal is approximately $5.1bn.
The acquisition will be financed with debt and cash on hand and Scientific Games has obtained committed debt financing for the transaction.
The transaction remains subject to approval by Bally’s stockholders, receipt of certain gaming regulatory approvals and other customary conditions
Scientific Games Corporation is a developer of technology-based products and services and associated content for worldwide gaming and lottery markets.
Bally Technologies provides the global gaming industry with slot machines, table game products, systems, mobile, and i-gaming solutions.
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