The use of Bally Technologies Inc.'s games at Las Vegas Sands Corp.'s new Pennsylvania casino helps expand the slot machine maker's market presence, an analyst said Friday.
The $743 million Sands Casino Resort Bethlehem opened Friday and is Bally's 25th casino with more than 3,000 slots under systems management, according to Todd Eilers of Roth Capital Partners.
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Eilers predicts Bally's initial installation at the Sands casino will add about $11 million to revenue and 7 cents per share to earnings in the fourth quarter. Las Vegas-based Bally should realize another $7 million in revenue and 5 cents per share in profit when an additional 2,000 slots ramp up in the fall, he said.
Eilers maintained a "Buy" rating and $47 price target.
Shares of Bally Technologies fell 12 cents to $26.35 in morning trading.
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