Bally Technologies, Inc., a leader in slots, video machines, and casino-management systems for the global gaming industry, has announced agreement to buy back USD100 million worth of stock.
The board of directors approved a USD100 million stock repurchase plan effective January 1, 2010. This new plan will replace the Company’s existing USD100 million stock repurchase plan under which Bally has repurchased approximately USD66 million of common stock to date.
At the annual shareholders’ meeting voting stockholders opted to re-elect David Robbins to the company’s board of directors for a three-year term. They also ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for fiscal year 2010; and approved the company’s 2010 Long-Term Incentive Plan.
Commenting on the repurchase program, Bally’s Chief Executive Officer, Richard M. Haddrill, said, “This new stock repurchase plan reflects our strong balance sheet and cash flows, and our confidence in our future prospects.”
