Scientific Games Corp

Casinos’ popularity is growing. This suggests that people like to gamble occasionally. Unfortunately, they don’t always win. For most of the people, the real fun is playing the game—not necessarily winning.

AQR Capital initiated a position in Bally Technologies during the third quarter of 2014 that accounts for 0.22% of the fund’s 3Q14 portfolio.

Scientific Games expects to achieve ~$220 million in cost synergies and $25 million in capital expenditure savings by consolidating operations.

In its merger agreement with Bally Technologies, Scientific Games agreed to acquire all outstanding Bally common stock for $83.3 cash per share.

The executive management team of SGMS includes President and CEO Gavin Isaacs and Executive Vice President and CFO Scott Schweinfurth.

Mario Gabelli’s GAMCO Investors began a new position in Bally Technologies Inc. (BYI) during the third quarter. The position accounted for 0.11% of the fund’s 3Q14 portfolio.

Scientific Games agreed to buy WMS Industries for $1.5 billion, emerging as a global supplier of lottery equipment and slot machines to casinos.

In contrast to last year, Greenlight Capital’s performance this year has been improving. In 2018, GLRE fell 34%, vastly underperforming the markets.