Half-billion$ revenues came to Bally Mfg.
as records were set in third quarter, 1980
CHICAGO- Robert E. Mullane ,
chairman of the board and president
of Bally Manufacturing Corporation
announced that Bally had achieved
record revenues , net income , and
earnings per share for the third
quarter and first nine months of
1980.
For the three -month period
ending September 30, 1980,
revenues were a record $174,800,000
as compared to the previous third
quarter record of $96 ,500 ,000
reported in 1979. Net income was
$16,172,000 , compared to $9,704 ,000
earned in the similar quarter of 1979.
Earnings per share for the quarter
rose 67% to $.60, also a record ,
versus the $.36 per share recorded
for the 1979 third quarter.
For the nine months ending
September 30, 1980, Bally revenues
were a record $505 ,700,000 as
compared to the $287,000 ,000
reported for the comparable period
of 1979. Net income for the nine
months was $38,604,000, also a
record, compared to $31 ,644,000
earned in the first nine months of
1979. Earnings per share for the nine
month period were $1.45, which was
22% above the $1.19 per share
reported a year ago .
Bally's Park Place, Inc ., an 83
percent-owned subsidiary, which
operates a hotel and casino in
Atlantic City, New Jersey,
contributed $67.7 million and $157.3
million to Bally 's consolidated
revenues in the three and nine
month periods , respectively .
Revenues from Bally's Park Place,
Inc . in the similar periods in 1979
were insignificant , as the facility did
not open until December of 1979.
The contribution of Park Place to
consolidated results , net of income
taxes and minority interests, was
$5 .8 million , or 21q: per share in the
third quarter , and $3 .4 million or 13q:
per share for the nine months.
Mullane , commenting on the third
quarter results , noted that he was
" particularly pleased by the excellent
results achieved by Bally's Park
Place in only its third quarter of
operations. Revenues and earnings
from Bally ' s manufacturing ,
distributing , and equipment
operating divisions were at record
levels.
"In particular, Midway Mfg. Co.,
our amusement arcade manufacturer,
as well as our Aladdin's Castle family
arcade centers , both reported
increases in revenues and earnings."
Mullane also noted that "strong cash
flow from operations enabled the
co mpa ny to re pay $30 million of long-
term debt during the third quarter.
Further significant debt repayme nts
are anticipated in the fourth
quarter."
Commenting on the outlook for
Bally, Mullane concluded by saying
that "we fully expect 1980 to be
another record year in revenues and
earnings for Bally."
Possible amusement
machine aid?
Multiple coin acceptor
Agfa -Gevaert and Telemax , a British
specialist in microprocessor -
controlled mechanisms, have
developed a coin control for
photocopiers that will accept a
variety of coins.
The two firms say the new control
called the Multiple Coin Acceptor,
will operate the photocopier at any
price in multiples of 2 pence, with any
combination of coins up to and
including a S-pence piece , reported
the Financial Times of London .
A light -emitting diode display
shows how much cash has been fed
into the control unit , and another
display shows how many copies can
be made for the money inserted .
The machine is flexible enough to
give pre -set discounts : if, for
example the price per copy has been
reduced after a certain number of
copies have been run off, the
controller will make the adjustment
automatically . It reportedly was not
developed with change -giving
capacity , however .
•
Mus ic Operators of Michigan recently presented its Operator of the Year award
to Chu ck Williams , of C igarette Vending Co., Dearborn. Pictured above are
W illiam s, receiving his trophy from Walter P. Maner, MOM executive secretary
(at right), and Sally Williams , recipient of a MOM Pride Award.