Gaming Suppliers In Play Friday Following $5.1 Billion Deal
Gaming stocks are in play Friday after Scientific Games (NASDAQ: SGMS) announced a $5.1 billion offer for Bally Technologies (NYSE: BYI). The 38 percent premium will provide traders and investors opportunity in other gaming stocks as industry valuation is reassessed.
The only stock reacting to the news in Friday’s pre-market session is International Game Technology (NYSE: IGT). Shares were last trading 1.9 percent higher, suggesting other companies in the space may see a boost.
Bally Technologies was last trading 33.8 percent higher at $80.50, while Scientific Games shares shot 14.2 percent higher.
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