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8-K - 8-K - BALLY TECHNOLOGIES, INC. | a14-22059_18k.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Investor Contact: Michael Carlotti |
Media Contact: Mike Trask |
Vice President of Treasury and Investor Relations |
Sr. Manager of Corporate Communications |
(702) 532-7995 |
(702) 532-7451 |
MCarlotti@ballytech.com |
MTrask@ballytech.com |
BALLY TECHNOLOGIES SCHEDULES SPECIAL STOCKHOLDER MEETING FOR NOVEMBER 18, 2014 TO VOTE ON APPROVAL OF THE MERGER AGREEMENT WITH SCIENTIFIC GAMES
LAS VEGAS, October 8, 2014 Bally Technologies, Inc. (NYSE: BYI) (Bally or the Company), announced today that a special meeting of its stockholders has been scheduled to, among other things, consider and vote on a proposal to approve the previously announced Agreement and Plan of Merger (the Merger Agreement) by and among the Company, Scientific Games Corporation, a Delaware corporation (Scientific Games), Scientific Games Nevada, Inc., a Nevada corporation and a wholly owned subsidiary of Scientific Games (Merger Sub), and Scientific Games International, Inc., a Delaware corporation and a wholly owned subsidiary of Scientific Games (Financing Sub), providing for the merger of Merger Sub with and into the Company (the Merger), with the Company surviving the Merger as a wholly owned subsidiary of Scientific Games.
The special meeting will be held on November 18, 2014.
Bally stockholders as of the close of business on October 20, 2014, the record date for the special meeting, will be entitled to notice of and to vote at the special meeting.
The merger, which is expected to be completed by the end of calendar 2014, is subject to the approval of a majority of the outstanding shares of Ballys common stock and the receipt of required gaming approvals, in addition to other customary closing conditions.
About Bally Technologies, Inc.
Founded in 1932, Bally Technologies, Inc. (NYSE: BYI) provides the global gaming industry with innovative games, table game products, systems, mobile, and iGaming solutions that drive revenue and provide operating efficiencies for gaming operators. For more information, please visit http://www.ballytech.com. Connect with Bally on Facebook, Twitter, YouTube, and LinkedIn.
Forward Looking Statements
This communication may contain forward-looking statements. Forward-looking statements may be typically identified by such words as may, will, should, would, expect, anticipate, plan, likely, believe, estimate, project, intend, and other similar expressions among others. Although we believe the expectations reflected in any forward-looking statements are reasonable, they involve known and unknown risks and uncertainties, are not guarantees of future performance, and actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements and any or all of our forward-looking statements may prove to be incorrect. Consequently, no forward-looking statements may be guaranteed and there can be no assurance that the actual results or developments anticipated by such forward looking statements will be realized or, even if substantially realized, that they will have
the expected consequences to, or effects on, the Company or its business or operations. Factors which could cause our actual results to differ from those projected or contemplated in any such forward-looking statements include, but are not limited to, the following factors: (1) the risk that the conditions to the closing of the merger are not satisfied (including a failure of the stockholders of the Company to approve, on a timely basis or otherwise, the merger and the risk that regulatory approvals required for the merger are not obtained, on a timely basis or otherwise, or are obtained subject to conditions that are not anticipated); (2) litigation relating to the merger; (3) uncertainties as to the timing of the consummation of the merger and the ability of each of the Company and Scientific Games to consummate the merger; (4) risks that the proposed transaction disrupts the current plans and operations of the Company; (5) the ability of the Company to retain and hire key personnel; (6) competitive responses to the proposed merger; (7) unexpected costs, charges or expenses resulting from the merger; (8) the failure by Scientific Games to obtain the necessary debt financing arrangements set forth in the commitment letter received in connection with the merger; (9) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; and (10) legislative, regulatory and economic developments. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Companys most recent Annual Report on Form 10-K for the year ended June 30, 2014, and our more recent reports filed with the U.S. Securities and Exchange Commission (the SEC). The Company can give no assurance that the conditions to the Merger will be satisfied. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information and Where to Find It
This communication is being made in respect of the proposed transaction involving the Company and Scientific Games. The proposed transaction will be submitted to the stockholders of the Company for their consideration. In connection with the proposed transaction, the Company will prepare a proxy statement to be filed with the SEC. The Company and Scientific Games also plan to file with the SEC other documents regarding the proposed transaction. THE COMPANYS SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. When completed, a definitive proxy statement and a form of proxy will be mailed to the stockholders of the Company. The Companys stockholders will be able to obtain, without charge, a copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SECs website at http://www.sec.gov. The Companys stockholders will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by going to the Companys Investor Relations website page at http://investor.ballytech.com or by contacting Investor Relations by mail to Bally Technologies, Inc., Attn: Investor Relations, 6650 S. El Camino Road, Las Vegas, Nevada 89118.
Participants in Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Companys stockholders with respect to the meeting of stockholders that will be held to consider the proposed Merger. Information about the Companys directors and executive officers and their ownership of the Companys common stock is set forth in the proxy statement for the Companys 2013 Annual Meeting of Stockholders, which was filed with the SEC on October 28, 2013. Stockholders may obtain additional information regarding the interests of the Company and its directors and executive officers in the proposed Merger, which may be different than those of the Companys stockholders generally, by reading the proxy statement and other relevant documents regarding the proposed Merger, when it becomes available. You may obtain free copies of this document as described in the preceding paragraph.
BALLY TECHNOLOGIES, INC.