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SOURCE SHFL entertainment, Inc.
LAS VEGAS, Sept. 25, 2013 /PRNewswire/ -- SHFL entertainment, Inc. (NASDAQ Global Select Market: SHFL) ("SHFL" or the "Company") announced today that it has begun the installation of its SHFL Fusion Hybrid Multi Game ("Fusion Hybrid") technology at Resorts World Manila in Newport City, Philippines.
The Fusion Hybrid platform features a live dealer (or dealers) with user-friendly, 22" widescreen electronic betting terminals. There are 100 terminals being installed at Resorts World Manila, allowing players to conveniently wager on live games of sic bo, baccarat, and roulette using an intuitive touchscreen interface. The Multi Game feature enables players to bet on one, some or all games at once, creating a dynamic and action-packed gaming experience. An area on the second floor of Resorts World Manila has been fully renovated and named "Prosperity Court" to accommodate this Fusion Hybrid "stadium."
"This significant installation of our new Fusion Hybrid e-Tables in the growing Philippines gaming market is very meaningful for SHFL," said Gavin Isaacs, Chief Executive Officer for SHFL. "Providing players with more excitement and variety while allowing for optimal flexibility and productivity on casino floors are paramount at SHFL. Our revitalized suite of e-Table innovations is a perfect example of our commitment to providing these benefits."
Since displaying this product at G2E Asia earlier this year, SHFL has installed its Fusion Hybrid technology at venues in Cambodia, Laos, and Korea; adding to the numerous locations at which this technology is already installed in Asia.
Installation of all 100 units at Resorts World Manila is scheduled to be completed by the end of September 2013.
About SHFL entertainment, Inc.
SHFL entertainment, Inc. is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. The Company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, which include automatic card shufflers and roulette chip sorters; Proprietary Table Games, which include live games, side bets and progressives; Electronic Table Systems, which include various e-Table game configurations; Electronic Gaming Machines, which include video slot machines; and newly introduced iGaming, which features online versions of SHFL's table games, social gaming and mobile applications. The Company is included in the S&P SmallCap 600 Index. Information about the Company and its products can be found on the Internet at www.SHFL.com, or on Facebook and Twitter.
On July 15, 2013, SHFL entered into a definitive agreement and plan of merger with Bally Technologies, Inc. (NYSE: BYI), pursuant to which Bally Technologies, Inc. has agreed to acquire the Company at a per share price of $23.25 in cash for total consideration of approximately $1.3 billion subject to the satisfaction of the conditions set forth therein.
This release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this release other than statements that are purely historical are forward-looking statements. Forward-looking statements in this press release include, without limitation: the Company's expectation that its products will perform as they are designed to do and will meet the profitability, performance and innovation expectations; the Company's expectation that it will provide players with a dynamic gaming experience that, in turn, benefits its customers; and the Company's expectation that all units will be installed according to the proposed schedule. The Company's beliefs, expectations, forecasts, objectives, anticipations, intentions and strategies regarding the future, including, without limitation, those concerning expected operating results, revenues and earnings, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from results contemplated by the forward-looking statements, including, but not limited to: 1) unexpected changes in the market and economic conditions and reduced demand for or increased competition; 2) the Company's unanticipated inability to accomplish its innovation objectives or its inability to accurately gauge the commercial appeal of its products; 3) unexpected consumer response to the products; 4) unexpected events that impact the scheduled installation of the units; 5) the risk that the conditions to the closing of the merger are not satisfied (including a failure of the shareholders of SHFL to approve, on a timely basis or otherwise, the merger and the risk that regulatory approvals required for the merger are not obtained, on a timely basis or otherwise, or are obtained subject to conditions that are not anticipated); 6) litigation relating to the merger; 7) uncertainties as to the timing of the consummation of the merger and the ability of each of SHFL and Bally to consummate the merger; 8) risks that the proposed transaction disrupts the current plans and operations of SHFL; 9) the ability of SHFL to retain and hire key personnel; 10) competitive responses to the proposed merger; 11) unexpected costs, charges or expenses resulting from the merger; 12) the failure by Bally to obtain the necessary debt financing arrangements set forth in the commitment letter received in connection with the merger; 13) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; and 14) legislative, regulatory and economic developments. Additional information on risk factors that could potentially affect the Company's operating results may be found in documents filed by the Company with the Securities and Exchange Commission, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. The Company does not intend, and assumes no obligation, to update any forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
The SHFL Fusion mark is owned by SHFL or one of its subsidiaries in the United States and elsewhere. © 2013 SHFL entertainment, Inc. All rights reserved.
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