Bally Technologies: Macro Headwinds Create Attractive, Best-In-Class Buying Opportunity
International Game Technology (NYSE:IGT) followed up its weak quarterly earnings in January with a reduction in guidance last night, which sent shares across the entire industry lower. The guidance reduction was credited to weak US demand, which does affect other names, but I believe that this announcement has overly impacted Bally Technologies (NYSE:BYI), which I believe is the best-in-class play in the gaming equipment market. With the acquisition of SHFL Entertainment, BYI now has a diverse revenue base, a leading position in the systems business, and the opportunity for revenue synergies that are currently not being forecasted by analysts. Additionally, I believe that there is clear indication...
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