Bally’s offered initial guidance for its 2013 fiscal year for EPS of $2.95 to $3.30, compared with a consensus estimate of $3.11.
The company’s CEO did a little bragging:
Our fourth quarter and fiscal 2012 results validate our leadership position in gaming technology innovation. This innovation leadership and visibility into further growth opportunities for all of our businesses for fiscal 2013 and beyond is tremendously encouraging.
Bally, like many other makers of casino gambling machines, has put a stake in the ground on Internet gambling. It is one of two companies to have already received licenses for online gambling in Nevada. The other is competitor International Gaming Technology Inc. (NYSE: IGT). Boyd Gaming Corp. (NYSE: BYD) and MGM Resorts International (NYSE: MGM) have partnered with an Internet game maker to launch a company to build an online poker game.
For now though, creating new machines and keeping casino operators happy seems to be working for Bally and the others.
Bally’s shares are up more than 9.5% in premarket trading to $46.00. The current 52-week range is $24.74 to $49.32. Thomson Reuters had a consensus analyst price target of $54.29 before today’s results were announced.
Paul Ausick
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