Bali Clears Last Regulatory Obstacles With Scientific Games Merger

Scientific Games Corp, a U.S.-based lottery equipment and management company, received final regulatory approval on Thursday for its merger with U.S.-based global slot machine maker Bally Technologies Inc.

Following the approval, Scientific Games announced that it expects to complete the merger of Bali Technologies the following day (November 21) if the remaining customary closing conditions are met.

The company said the Nevada Gaming Commission had unanimously approved the deal, addressing all regulatory hurdles for its merger with Bali Technologies.

Gavin Isaacs, President and Chief Executive Officer of Scientific Games, said in a statement: “We are pleased to receive unanimous approval from the Nevada Gaming Commission and would like to thank the Commission, the Nevada Gaming Control Commission and its staff for their prudence in reviewing the deal.”

Scientific Games announced in August that it was acquiring Bali Technologies in a deal worth $5.1 billion. The announcement was part of a number of mergers and acquisitions deals in the casino equipment supply sector in recent months, marking a year of major reshuffling and consolidation in the industry.

In September, the transaction’s completion schedule was pushed back to the end of 2014 following the regulator’s approval. The transaction was originally scheduled to be completed in early 2015.

Scientific Games expects $235 million in annual cost synergies from its acquisition of Bali Technologies within two years, Isaacs said in October. 무료슬롯사이트

Earlier this week, Bali Technologies’ shareholders had already formally approved the merger with Scientific Games at a special shareholders’ meeting.