Play Meter

METER PLA UPDATE EDITION EDITION Volume 5, 5, Number Number 6 6 Volume April 1,1,1979 1979 April Florida metering metering bill bill defused defused Florida With the the aid aid of of the the Florida Florida With Amusement Merchandising Merchandising AssociaAssociaAmusement tion (FAMA), (FAMA), aa potentially potentially dangerdangertion ous metering metering bill bill in in that that state state has has ous been defused defused and and amended amended to to the the been point where where operators operatorsin in the the state state are are point now in in support support of of the the legislation. legislation. now The proposed proposed bill bill (H.B. (H .B. 36) 36) would would The have required required operators operators to to install install have in their cigarette machines meters meters in their cigarette machines and to to affix affix identification identification stickers stickers to to and those machines. The stickers were to those machines. The stickers were to five dollars dollars apiece. apiece. cost operators operators five cost But FAMA, which has been But FAMA, which has been closelymonitoring monitoring activity activityin in the the state state closely legislature, jumped into the fray early legislature, jumped into the fray early and helped helped defuse defuse the the threat. threat. The The and stateassociation association vowed vowed from from the thestart start state to fight fight the the proposed proposed legislation, legislation, to saying that that the the metering metering law law could could at at saying later date date be be extended extended to to encomencomaa later pass amusement amusement machines machinestoo. too. pass Things began began to to take take aa favorable favorable Things turn for for the the industry industry with with aa January January turn 11 hearing before a subcommittee of · 11 hearing before a subcommittee of the Regulated Regulated Industries Industries and and LiLithe censing Committee Committee of of the the Florida Florida censing House of of Representatives Representatives.. After House .. After hearing testimony from both sides on hearing testimony from both sides on the question, question, the the subcommittee subcommittee the amended the thebill, bill, killing killing the the metering metering amended portion of of the the bill bill and and the the five-dollar five-dollar portion fee on on the the sticker. sticker. The The bill bill still still fee contains aa sticker sticker program program on on contains "Machit;le One." One." H.B. H .B. 36 36 now now goes goes "Machine to the the full full committee committee for for consideraconsiderato tion. tion. Testifying in in favor favor of of the the bill bill in in its its Testifying originai'form form were were the the director director of of the the original Florida Beverage Beverage Division Division and and the the Florida ' · Chief of of Audit. Audit. Chief Robert Rhinehart, executive direc~ Robert Rhinehart, executive director of of FAMA, FAMA; was was among among those those who who tor spoke out in opposition to the spoke outbill.inTheopposition to the metering bill. FAMA spokesman spokesman metering The FAMA communicated to to the the subcommittee subcommittee communicated that there there also also should should be be no no fee fee for for that the sticker program . the sticker program. The incident incident seems seems to to indicate indicate The once again the value of state once again the value of aa state association to to the the operator. operator. association Bally stock stock split split approved approved by by board board Bally Bally Manufacturing Manufacturing Corporation Corporation Bally recentlyannounced announcedthat that the the board board of of recently adopted directors of Bally had directors of Bally had adopted aa proposal for for aa two-for-one two-for-one common common proposal stock split, in the form of 100 stock split, in the form of aa 100 percent stock stock distribution distribution (one (one addiaddipercent tional share share for for each each share share outstandoutstandtional ing). At At the the same same time, time , Bally's Baily's board board ing). also recommended that effective with also recommended that effective with the proposed proposedstock stocksplit, split, the the $. $ .10 per the 10 per share annualized cash divident now share annualized cash divident now paid by by Bally Bally be be doubled doubled by by paid maintaining the same annualized rate maintaining the same annualized rate of $.10 $ .10 per per share share on on split split shares shares of outstanding . outstanding. William T. T. O'Donnell, O'Donnell, chairman chairman William . and president of Bally, also noted . and president of Bally, also noted that "although "although the the record-breaking record-breaking that cold wave wave encompassing encompassing the the eastern eastern cold section of of the the United United States States had had put put section Baily's construction of its Atlantic Bally's construction of its Atlantic City hotel/casino hotel/ casino project project approxiapproxiCity mately ten days behind schedule, the mately ten days behind schedule, the company expected expected to to make make up up for for company the lost time by having the constructhe lost time by having the construction personnel personnel working working double double shifts shifts tion and , weekends, and increasing its and weekends, and increasing its buildingmanbody manbodycrew crewto to 1,500 1,500 per per building day from from 400 400 at at present. present. While While we we day will obviously obviously be be incurring incurring additional additional will costs, we we intend intend to to keep keep further further time time costs, slippage to to aa bare bare minimum minimum and and slippage remain confident confident about about our our July July 1, 1, remain 1979 target target date date for for opening.' opening." 1979 The stock stock split split isis subject subject to to The approval of of the the company's company's stockstockapproval holders at at the the company's company's annual annual holders meeting scheduled scheduled for for May May 3, 3, 1979. 1979. meeting If the stockholders approve the split, If the stockholders approve the split, the additional additional shares shares will will be be mailed mailed to to the stockholders on or about June 7, stockholders on or about June 7, 1979 to to stockholders stockholders of of record record on on 1979 May 10, 10, 1979. 1979. May The proposed proposed stock stock split split also also The $50 million million applies to to the the company's company's $50 applies subordinated convertible convertible bond bond issue issue subordinated which, upon upon the the effective effective date date of of which, split, would make the conversion split, would make the conversion price $31 $31 per per share share compared compared to to $62 $62 price at present. at present. Abbott coin coin sorter sorter released released Abbott In anticipation anticipation of of the the soon-to-besoon-to-beand inspection inspection trays. trays. In and issued one-dollar one-dollar coin, coin, Abbott, Abbott, Inc., Inc., The CS CS 1600 1600 six-coin six-coin countercounterThe issued has introduced a fully automatic, sorter, ·a¥ailable nationwide through has introduced a fully automatic, sorter, available nationwide through six-coin counter-sorter counter-sorterthat that isistwice twice as as Abbott district district representatives, representatives, isis six-coin Abbott fast as as conventional conventional machines. machines . serviced and and cleaned cleaned easily easily since since the the fast serviced The CS CS 1600 1600 Electronic Electronic Six-Coin Six-Coin ·interior interior of of the the machine machine isis immeimme~ The Counter-Sorter, which which isis less less expenexpen- · ~.¢'lately accessible by by merely merelylifting lifting the the Counter-Sorter, diately accessible sive than than standard standard coin coin counting counting . front front cover. cover . ItIt also also features features an an sive machines, counts counts and and sorts sorts over ~· 'automaticshut-off shut-offshould should aa mutilated mutilated machines, automatic 1,000 coins coins per per minute. minute. ItIt features featur~ coin jam jam the the machine. machine . 1,000 coin both variable/ full and half bag Abbott, Inc., Inc ., manufacturer manufacturer of of Abbott, both variable/full and half bag settings for for all all U.S. U.S. coins coins..including including money handling handling equipment equipment since since settings money the new new one-dollar one-dollar piece. piece. And And the the 1911, isis aa full full service service supplier supplier of of the 1911, basic equipment equipment isis available available in in eight eight coin, currency currency and and document document countcountbasic coin, different models models with with accessories accessories ing systems systems as as well well as as bill bill and and coin coin different ing including totalizers, totalizers, bagging bagging stops, stops, wrappingmaterials materials and and related related prodprodincluding wrapping automatic feed, feed, audit audit trail trail printers, printers, ucts. ucts. automatic