Scientific Games to buy rival Bally Technologies for $3.27 billion

Reuters News
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Posted: Aug 01, 2014 7:36 AM

(Reuters) - Scientific Games Corp <SGMS.O>, which makes slot machines for casinos, will buy larger rival Bally Technologies Inc <BYI.N> for about $3.27 billion.

The $83.30 per-share cash offer represents a 38 percent premium to Bally's Thursday closing price of $60.17 on the New York Stock Exchange, the companies said in a joint statement.

Including debt, the deal value is $5.1 billion, the companies said.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Simon Jennings)