Bally Technology, the industry leaders, when it comes to slot machines, has recently announced the high fiscal rise in its 4Q-net profit. This Thursday, the officials at Bally have declared that its fourth quarter net profit has jumped straight up to 54% and the whole credit goes to the huge gain the company has acquired through its casino sale in Mississippi.
As stated by the Bally Officials, the net income during the period from April, 2010 through June, 2010, rose to $51M, which is equivalent to around 89% per share. During the same period of the previous year, it was around $33.2M or 58% per share. Thus, with such a huge increase of 54 percent, the company has definitely good reasons to celebrate.
Bally has also revealed, that if they exclude the Rainbow Casino’s $80 million sale in the month of June, then the net income would have been something around 55% per share, which is even less than what was estimated by the experts from Thomson Reuters.
Richard Haddrill, the CEO of the Las Vegas based company, Bally Technology has said in one his statements, “In spite of the fact that the market conditions were not good at all, Bally never compromised with its standards and has been dedicated for the last two years, in order to bring the best for our customers, in both the terrains of research and developments”.
Another announcement, made this Thursday, was about the appointment of company’s new Chief Financial Officer, Neil Davidson after the retirement of present CFO, Robert Caller.
It was since 2006 that Davidson has been working for Bally Technology. Bally said, that after the CFO replacement, Caller will be still serving the company as a consultant.
“We are now able to put forward a firm and versatile profile in front of all our customers”, said Haddrill.
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