Bally Technologies Announces Results of Annual Shareholders’ Meeting and Approval of $100 Million Stock Repurchase Program
LAS VEGAS–(BUSINESS WIRE)– Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, and casino-management systems for the global gaming industry, announced the results of its annual shareholders’ meeting held earlier today.
Shareholders re-elected David Robbins to the Company’s Board of Directors for a three-year term; ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2010; and approved the Company’s 2010 Long-Term Incentive Plan.
In addition, the Board of Directors approved a $100 million stock repurchase plan effective January 1, 2010. This new plan will replace the Company’s existing $100 million stock repurchase plan under which Bally has repurchased approximately $66 million of common stock to date.
Commenting on the repurchase program, Bally’s Chief Executive Officer, Richard M. Haddrill, said, “This new stock repurchase plan reflects our strong balance sheet and cash flows, and our confidence in our future prospects.”
About Bally Technologies, Inc.
With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. Bally’s product line includes reel-spinning slot machines, video slots, wide-area progressives, and Class II, lottery and central determination games and platforms. As the world’s No. 1 gaming systems company, Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions. The Company also owns and operates Rainbow Casino in Vicksburg, Miss. For more information, please contact Laura Olson-Reyes, Director of Corporate Communications, at 702-584-7742, or visit http://www.ballytech.com.
This news release may contain “forward-looking” statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements. Future operating results may be adversely affected as a result of a number of risks that are detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information in this press release and represents that the information is only valid as of today’s date.
– BALLY TECHNOLOGIES, INC. –