Shfl Entertainment 3rd-quarter earnings down 38.5 percent
Las Vegas-based Shfl Entertainment, a gaming equipment, table games and slot machine manufacturer that is being acquired by Bally Technologies, reported its third-quarter earnings this afternoon.
Company: Shfl Entertainment (Nasdaq: SHFL)
Revenue: $73.5 million (up 16 percent from the third quarter of 2012.)
Earnings: $6.4 million (down 38.5 percent from the third quarter of 2012.)
Earnings per share: 11 cents (down 38.9 percent from the third quarter of 2012.)
What it means: The company’s Electronic Table Systems, Electronic Gaming Machine and Proprietary Table Game divisions generated more revenue for the quarter, but expenses related to the Bally’s acquisition of the company affected earnings.
The $1.3 billion deal with Bally, announced in mid-July, is expected to close by the second quarter of 2014.
The company also reported an increase in operating expenses attributed to the expansion of the Internet gaming department and product development for online games.
The company reported growth in its slot machine division due to a greater number of unit placements in Asia.