Bally Will Be Bought for Billions by Scientific Games

A mammoth deal that even trumps Apple’s acquisition of Beats, Scientific Games is poised and ready to pay somewhere in the neighborhood of $3.3 billion to acquire Bally Technologies.

If the deal pans out as intended, the deal that would effectively combine the juggernaut makers of a wide variety of industry-leading gambling equipment.

“The electronic gambling machine maker said Friday that it will pay $83.30 for each share of Bally. That amounts to a 38 percent premium to Bally’s closing price of $60.17 on Thursday,” the AP reported Friday. “The deal value totals $5.1 billion counting about $1.8 billion in Bally debt.”

Although both parties expect the deal to close early in 2015, the buyout must still be approved both by the appropriate regulators as well as Bally shareholders. But few hitches appear on the horizon.

According to the same report, it’s likely that Bally CEO Richard Haddrill and other high ranking officials will migrate over to Scientific Games in some capacity.