Scientific Games buys Bally Technologies

http://www.casinojournal.com/articles/89091-scientific-games-acquires-bally-technologies-in-51-billion-deal

So let me get this straight: Shufflemaster, Bally, and WMS are all now owned by a lottery company. Is that correct?

Quote: JB

So let me get this straight: Shufflemaster, Bally, and WMS are all now owned by a lottery company. Is that correct?

One that's headquarters are in NYC. This is
never a good thing, it puts yet another layer
between the employees of the smaller
companies and upper management. And
new companies always do massive cutbacks
immediately, they have to make money and
please the stockholders.

My wife worked for a smaller insurance company
that was bought by a bigger on, and eventually
bought by a huge one. They went from all
kinds of perks and company picnics and 45min
lunches, to people getting fired left and right,
20min lunches, and constant memo's from on
high to 'cut the fat'. It's a miserable place to
work now.

The most interesting story in this mix is Gavin Isaacs path, see this article Gavin Isaacs Named CEO.

Isaacs goes from Bally to become SHFL's CEO, stays 2 years, sells SHFL to his old company Bally, lays low for 3-4 mos, gets consulting gig with Perelman (Perelman is signifcant shareholder of Scientific), gets tapped to be CEO of Scientific in June and buys the combined Bally/SHFL entity in August.

In the end, he gets to run it all......quite an accomplishment!

Quote: Paradigm

The most interesting story in this mix is Gavin Isaacs path, see this article Gavin Isaacs Named CEO.

Isaacs goes from Bally to become SHFL's CEO, stays 2 years, sells SHFL to his old company Bally, lays low for 3-4 mos, gets consulting gig with Perelman (Perelman is signifcant shareholder of Scientific), gets tapped to be CEO of Scientific in June and buys the combined Bally/SHFL entity in August.

In the end, he gets to run it all......quite an accomplishment!

Yeah, I was looking at that as well. I have to wonder if he didn't plan that whole career path for himself. Pretty clever if he did. I was surprised he ever left Bally/SHFL last year. But perhaps he saw this coming. 9 months start to finish.

Quote: beachbumbabs

http://www.casinojournal.com/articles/89091-scientific-games-acquires-bally-technologies-in-51-billion-deal

is it 51 billion or 5.1 billion?

Quote: UCivan

is it 51 billion or 5.1 billion?

5.1

Quote: EvenBob

They went from all
kinds of perks and company picnics and 45min
lunches,.

Hehe, I can't remember the last time I took a 45 minute lunch.