Bally Technologies has very attractive company profile as presented in . The company is known globally for its specialty in the field of gaming systems, devices and technology solutions. It designs, operates, manufactures and distributes slots machines, lottery, video slots and central determination platforms and games. Even before the prime online casino sites came to life, Bally Technologies was already up and running with its history that can be traced back to 1932. However, there has been an interesting issue going around the industry today. This is pertaining to the huge amount of money that the chief executive officer is going to spend. Now, many are asking what lies ahead for the company. The recent report says that CEO Ramesh Srinivisian purchased 25,000 BYI shares at $47.48 for a total of $1,186,900. With this, company shares have gone up by $49.188 only a week later.
According to reports, the reason behind the purchase is that the company is preparing for the upcoming legalization of casinos online in the United States. This is after the industry has learned that the Department of Justice announced that it is legal to gamble at prime online casino sites except in the case of sports betting. In September, Delaware already has its regulations in place. It will be followed then by Nevada, New Jersey and perhaps Massachusetts, Pennsylvania and possibly Hawaii. All states are gearing up for the possible launch of the for their residents. The possibility of having an interstate compact to offer these products and services is also being entertained. It appears that the Bally Technologies’ CEO is also seeing its future in the Internet gambling world. The company has already rooted out in the casino industry. Now, it seems like it is about to branch out to another venture targeting the United States.
Ropes and Gray law firm representative David O. Stewart commented that there are millions of Americans who spend as much as $4 billion every year to their prime casino online games although there have been some opposition from the government. The once draconian laws in the US had driven more responsible offshore online casino providers from the market. With this, the US government has left nothing but unregulated operators. Fortunately, everything seems to have turned upside down now. As soon as it has secured its position, Bally Technologies is ready to plunge.