Bally Technologies Provides Business Update; Announces Buyback Of 898,000 Shares

Bally Technologies, Inc. BYI announced today that it has obtained commitments for $700 million of new senior secured credit facilities comprised of a $400-million, five-year revolving credit facility and a $300-million, five-year term loan. During the third quarter, Bally repurchased approximately 898,000 shares for a total of $35.1 million, leaving $27.3 million available under its existing share repurchase plan. On April 6, 2011, the Company's Board of Directors increased the share-repurchase program to an amount equal to $550 million minus the amount repurchased in the tender offer. Under the new Credit Facilities, the Company will have unlimited capacity to repurchase its common stock or make other restricted payments as long as its gross leverage ratio is below 2.0 and may make up to $100 million in restricted payments per year if its gross leverage is above 2.0.