Ramesh Srinivasan, CEO of Bally Technology, bought 15,000 shares of Bally Technology (Symbol:BYI) at $67.54 per share for a total amount of $1,013,000 million on February, 12, 2014.
Bally Technology’s headquarters are located in Las Vegas, NV. February 26, 2014, Bally Technologies, a leader in gaming machines, table game products, casino-management systems, interactive applications, and networked and server-based systems for the global gaming industry, today announced that Miami Valley Gaming has installed its award-winning systems solutions. Bally’s iVIEW Display Manager (DM) picture-in-picture-style player-user interface and Elite Bonusing Suite (EBS) will be deployed floor-wide on 1,600 video lottery terminals, enabling interactive, floor-wide player-bonusing events. Miami Valley Gaming will use EBS to add excitement across its iVIEW network using real-time promotions such as Virtual Racing, DM Tournaments, Virtual Racing NASCAR, Flex Rewards, U-Spin bonusing, and Power Winners. The Ohio property, a joint venture between Delaware North Companies Gaming & Entertainment and Churchill Downs Inc., opened in December. It features 1,600 state-of-the-art video lottery terminals, a racing simulcast center, several restaurants, and Miami Valley Raceway, a 5/8-mile harness racetrack. February 6, 2014, Bally Technologies announced its latest quarterly results, a leader in gaming machines, table-game products, casino-management systems, interactive applications, and networked and server-based systems for the global gaming industry, today announced record quarterly revenue of $285 million and Adjusted EPS of $1.06 for the three months ended December 31, 2013, inclusive of a $0.02 loss per share from unfavorable foreign currency movements. Diluted earnings per share (“GAAP Diluted EPS”) was $0.54 for the three months ended December 31, 2013. Second quarter fiscal 2014 results include 37 days of operations from SHFL entertainment, Inc. (“SHFL”).
According to Capital IQ, Bally Technologies has a market cap of $2.6 billion, an enterprise value of $4.482 billion], and trailing 12 month revenues of $1.3 billion in revenues, $644 million of which are recurring in nature, and Adjusted EBITDA of $415 million. In addition, once combined, the Company expects to achieve synergies of at least $30 million. Raymond T. Moloney founded Bally as a pinball manufacturer in Great Depression-era Chicago. The company started producing slot machines in 1936, making Bally the world’s oldest slot machine manufacturer. Today, Bally Technologies, Inc. is a diversified, worldwide gaming company that designs, manufactures, distributes, and operates gaming devices and computerized monitoring, accounting and player-tracking systems for gaming devices. The Company maintains more than 25 offices around the world and employs about 3,500 people. In 1975, Bally (BYI) became the first gaming company to be publicly traded on the New York Stock Exchange. Now based in Las Vegas, Bally strives to lead the industry in innovation.
Ramesh Srinivasan’s most recent annual compensation from Bally Technologies is a salary of $776,923, $4,083,853 in other compensation, and a total compensation of $4,860,776. Mr. Ramesh is 53 years old.
According to his biography, Ramesh Srinivasan was named President and Chief Executive Officer of Bally Technologies in December 2012 after being promoted to President and Chief Operating Officer in March 2011. He joined Bally in 2005 as Executive Vice President of Systems, responsible for the Systems business unit. Ramesh’s varied and significant experience with application software proved key as he led Bally’s Systems division to record revenues and customer-satisfaction levels and helped position Bally as the global leader in Gaming Systems. During Ramesh’s tenure at Bally in various capacities, Bally’s market cap has increased approximately four-fold. In 2013, Ramesh played an integral role in the $1.3 billion acquisition of SHFL entertainment – the biggest acquisition in the Company’s history. Prior to joining Bally, Ramesh was Executive Vice President, Warehouse Management Systems, with Manhattan Associates, a leader in supply-chain execution software solutions. Manhattan Associates grew rapidly during the approximately seven years Ramesh was with the Company. Ramesh earned his Bachelor’s degree in Metallurgical Engineering from IIT-BHU, Varanasi, India, where he was named “Best Graduating Student” (1982) by the Metallurgical Engineering Department. He then completed his PGDM (Post-Graduate Diploma in Management − MBA) from the Indian Institute of Management, Bangalore, India in 1984. In 2006 and 2010, Global Gaming Business magazine named Ramesh “One of the Top 25 Personalities to Watch” in the gaming industry, making him the only gaming-industry professional to have been named twice in this past decade.
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