Free press releases distribution network?

Agency / Source: ChanPark

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy - Baly Technologies set to gain access to growing Asian market and expand its portfolio of product offerings with the acquisition of SHFL - ChanPark.com
Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy

 

PRZOOM - /newswire/ - Singapore, Singapore, 2013/08/14 - Baly Technologies set to gain access to growing Asian market and expand its portfolio of product offerings with the acquisition of SHFL - ChanPark.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Electronic gaming machine manufacturer Baly Technologies Inc. stated that it will purchase gaming equipment company SHFL Entertainment Inc. for around $1.3 billion in order to gain access to the thriving industry across Asia and Australia.

After the announcement, Baly shares climbed 9 percent to a record high as investors bet on the move. The acquisition will give Baly global reach and offerings that set them apart from competitors.

Up until now Baly has focused most of their efforts on the slots market, but SHFL brings electronic games, and mechanical devices needed by gaming resorts. The marriage will give Baly a complete lineup likely to significantly increase the average purchase from the company.

With a stronghold in Asia, the world’s fastest growing gaming market, Baly is poised to grow substantially from the buyout which more than justifies the 24% premium that they offered over the share value of SHFL.

“From a strategic standpoint, the partnership makes perfect sense. The companies complement each other well, and the combination of patents, largely in noncompeting segments, make for a powerhouse of a gaming equipment provider.” - Michael Webber, ChanPark International.

Around Asia, gaming is growing rapidly, as is the electronic segment of that market. Taiwan is opening its doors to the industry, and South Korea will follow soon behind. The Philippines is developing massive resorts, and smaller destinations scattered around the region make for a very large and rapidly growing market. While the United States would be expected to have the largest market, SHFL sold more to Asia and Australia in 2012 than the United States. 36% of SHFL’s total sales in 2012 were to Australia, and Baly previously had little to no exposure to it. 81% of Baly’s revenue is from the US, so access to SHFL’s Asian and Australian clients is expected to significantly increase the global sales of the Baly product lineup.

Baly, founded in Chicago as a pinball manufacturer almost a century ago, expects the deal to add to its earnings per share and free cash flow within a year of closing.

The acquisition, which includes the assumption of $8 million of debt, is expected to close by the second quarter of 2014.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: ChanPark

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Baly Technologies Shows Interest in Asian Gaming Market with $1.3 Billion SHFL Buy

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Roger Gilbert - ChanPark.com 
+65 3106 2093 rgilbert[.]chanpark.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ChanPark securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From ChanPark / Company Profile


Read Manufacturing/Robotics Most Recent Related Press Releases:

LANXESS Pigments Used in Formula E
Voith Builds New XcelLine Board Machine for Bohui Paper Group
Voith Paper Offers Rebuilds of Medium-sized Paper Machines to Increase Production Capacity by up to 15%
SCHOTT to Showcase Highly Lightweighted, Monolithic ZERODUR® Mirror Blanks At SPIE Optics and Photonics 2017
LANXESS Doubles Membrane Production Capacity
MAN Engines Presenting Global Innovations for Agricultural Machinery and Cogeneration
Anti-corrosion Coatings Manufacturers Focus on Low-cost, High-performance Coatings for Asia-Pacific Market Finds Frost & Sullivan
The Navigator Company Selects Voith XcelLine Tissue Machine for Cacia in Portugal
SCHOTT Eternaloc® Electrical Penetrations Answer New Requirements of Innovative Twin High-Temperature Reactors [HTR] in Shidao Bay, China
BASF’s iGloss Clearcoat Offers Higher Gloss and Improved Scratch-resistance on Vehicles

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  RightITnow Ltd

Visit  Intrinsic Executive Search Ltd

Visit  S&A Capital Partner Ltd







 
  ©2017 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today