Bally Not Thrilled with Earnings 

The slot machine manufacturer Bally Technologies is not thrilled with the way that their last year turned out. They were obviously hoping for their company to make more money than it did but slot machines just aren’t selling. It used to be that they could count on their casinos bringing in a ton of slot machines over and over as they swapped out the old games for the new ones. However, this doesn’t really happen anymore. Instead, the casinos are sticking with the slot machines that they have in an attempt to save themselves some money. 

The problem with that is that there are less slot machines leaving Bally’s floor and less revenue for them. The casinos are still bringing in revenue, but unless they swap out their slot machines Bally is not. They have released their latest earnings and they say that their second quarter earnings were “relatively flat” compared with same time last year.  

They said that last year they had brought in $33.3 million or 58 cents a share this year, and $33.6 million, or 59 cents a share last year. They had other offerings to show their investors – such as the contract extension that they got with the New York Lottery to bring in the slot machines that will be at the state’s eight race track courses, but they were still hoping for more as were their investors. 

The slot machine company said that although they might be disappointed in the amount of money that they made, they are still making a profit when many slot machine companies are not. They said that there were many slot machine manufacturers, distributors, etc. that had gone out of business and so they were thankful for what they had.