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Morgan Stanley Comments On Bally's Caesars Deal

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According to Morgan Stanley, Bally Technologies (NYSE: BYI) enterprise-wide agreement to implement iView DMs across Caesars' portfolio is a modest long-term positive for BYI as it should help validate the technology given Caesars' reputation as an industry leader in systems and gaming technology.

Morgan Stanley said that while there were few details in the release, we estimate the contract is worth roughly $0.15-0.25 in EPS and will likely be rolled out over 2-3 years. “While expectations for BYI have been reset to more realistic levels, we see limited positive catalysts in the near term given BYI's higher relative exposure to product sales (slots and systems) as opposed to Game Ops.”

Bally Technologies closed yesterday at $36.70.

 

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