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Bally Technologies seems to be making profit despite obvious market trends.  Casinos seem to be reporting decreasing revenues month after month, not many of them seem to be spending money on purchasing new slot machines.  In spite of that profits and revenues seem to have grown in Bally’s recently completed first quarter. 

The first quarter ended for the Las Vegas based provider of slot machines.  Reports indicate a net income of $30.3 million.  Last year, net income was only $21.3 million.  Revenues rose over the year by 25.6 percent from $189 million to $237 million.

“The continued momentum in all of our technology businesses drove first-quarter earnings,” said Bally Chief Executive Officer Richard Haddrill.

“Despite challenging economic and capital market conditions, we continue to grow our businesses through innovation and execution, which are driving market-share gains.”

To match the numbers, Bally of course saw a major increase of 28 percent in the number of slot machines they shipped to buyers.  This quarter Bally managed to ship 6,598 new slot machines out of its warehouses.

Casino and slot machine management sales were also up to $52 million.  The increase was 33 percent over last year.

“The company has been known for its strength in the stepper (mechanical reel) market but it has made significant gains on the video side of the business on both the domestic and international fronts,” said Justin Sebastiano, a Morgan Joseph gaming analyst.

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