Bally
Technologies, Inc. (NYSE: BYI)
Ramesh Srinivasan will become Bally Technologies' President and Chief Executive Officer and Board Member effective by December 31, 2012 (Photo: Business Wire)
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RAMESH SRINIVASAN PROMOTED TO PRESIDENT AND CHIEF EXECUTIVE OFFICER
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RICHARD HADDRILL BECOMES CHAIRMAN OF THE BOARD
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KEVIN VERNER TO BECOME LEAD INDEPENDENT DIRECTOR
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COMPANY TO HOST CONFERENCE CALL TODAY AT 4:30 P.M. EST
Bally
Technologies, Inc. (NYSE: BYI), a leader in slots, video
machines, casino management, interactive applications, and networked and
server-based systems for the global gaming industry, announced today
that Ramesh Srinivasan will become President and Chief Executive Officer
and Board Member effective by December 31, 2012.
Current Chief Executive Officer Richard M. Haddrill will become Chairman
of the Board. Haddrill joined Bally as Chief Executive Officer in 2004,
after serving as Chief Executive Officer of two successful public
companies. Under his leadership Bally has doubled revenues and increased
the share price almost four fold.
Haddrill commented, “Ramesh and I have been great business partners over
the past 13 years across two companies and these changes reflect the
continued natural evolution of our roles and responsibilities. We have
built a deep group of leaders at Bally and Ramesh has proven his ability
to lead the team.”
Srinivasan joined Bally in 2005 as Executive Vice President of Systems
and was responsible for shaping Bally’s Systems business into the
industry leadership position. He was promoted to President and Chief
Operating Officer in March 2011, assuming leadership for worldwide
games, systems, and customer service. Under Srinivasan, Bally has
positioned itself well to capitalize on the convergence of the games and
systems businesses as well as emerging mobile and iGaming platforms.
Previously he was a senior executive at supply chain software company,
Manhattan Associates, Inc.
“I am honored to be the next President and Chief Executive Officer of
Bally at such an exciting time in our Company’s 80-year history,”
Srinivasan said. “We are on a very good track for the coming years. I am
very enthusiastic about the many opportunities I see to serve existing
customers, expand our customer base, continue to provide growth
opportunities for our people and increase shareholder value.”
Kevin Verner, current Chairman, said, “The Board of Directors is very
pleased with the direction of the Company and our succession planning
process. We value the strong executive team at Bally and the close
working relationship between Ramesh and Dick, which we expect to
continue.”
The Company is hosting a conference call and webcast today at 4:30 p.m.
EST (1:30 p.m. PST). The conference call dial-in number is 877-261-8990
or 847-619-6441 (International); passcode “Bally.” The webcast can be
accessed by visiting BallyTech.com
and selecting “Investor Relations.” Interested parties should initiate
the call and webcast process at least five minutes prior to the
beginning of the presentation. For those who miss this event, an
archived version will be available at BallyTech.com
until December 14, 2012.
About Bally Technologies, Inc.
With a history dating back to 1932, Las Vegas-based Bally Technologies
designs, manufactures, operates, and distributes advanced gaming
devices, systems and technology solutions worldwide. Bally’s product
line includes reel-spinning slot machines, video slots, wide-area
progressives, interactive and mobile applications, and Class II,
lottery, and central-determination games and platforms. Bally also
offers an array of casino management, slot accounting, bonusing,
cashless and table management solutions. For more information, please
contact Laura Olson-Reyes, Senior Director, Marketing & Corporate
Communications, at 702-584-7742, or visit http://www.ballytech.com.
Connect with Bally on Facebook,
Twitter,
YouTube
and LinkedIn.
This news release may contain “forward-looking” statements within the
meaning of the Securities Act of 1933, as amended, and is subject to the
safe harbor created thereby. Such information involves important risks
and uncertainties that could significantly affect the results in the
future and, accordingly, such results may differ from those expressed in
any forward-looking statements. Future operating results may be
adversely affected as a result of a number of risks that are detailed
from time to time in the Company’s filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update the
information in this press release and represents that the information is
only valid as of today’s date.
– BALLY TECHNOLOGIES, INC. –
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20121114006990/en/
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