Bally Technologies $1.3 Billion Acquisition of SHFL Entertainment Approved
On Friday, Bally Technologies' $1.3 billion acquisition of global gaming supplier SHFL Entertainment was approved by the Nevada Gaming Control Board and Nevada Gaming Commission.
, Commission executive Adriana Fralick confirmed that the two organizations had opted to approve the transaction at a joint meeting this week.
Both companies signed an agreement for the acquisition in July of 2013, and SHFL shareholders approved the deal on Tuesday.
Bally will pay $23.25 per share and acquire $8 million in debt and $41 million in cash from SHFL.
The acquisition of SHFL, a company with 350 Nevada-based employees and 900 other employees worldwide, will result in for Bally. Additionally, the company will capitalize on SHFL's expertise in table games and their signature automatic card-shuffling machines.
The World Series of Poker used Shuffle Master automatic shufflers at the 2013 WSOP, and Shuffle Master was acquired by Bally in July of 2013.
Photo courtesy of i-gamingnews.com.
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