Bally Technologies Corporation, an innovator in gaming machines, table game items, casino-management systems, interactive programs, and networked and server-based systems for that global gaming industry, today introduced it’s joined right into a definitive agreement to get Dragonplay Ltd., a number one online social casino company based in Tel Aviv, Israel, with top-grossing programs for Android, in addition to a significant presence on Facebook and Apple iOS.

Released this year, Dragonplay ranks one of the top 10-grossing game designers within the social casino genre with roughly 700,000 daily active customers (“DAU”) and nearly three million MAU across all platforms. Within the “Card” category on the internet Play, Dragonplay’s poker game Live Hold’em Professional is rated number 1 within the top-grossing category.one in the “Casino” category on the internet Play, Dragonplay Slots is really a top ten artist when it comes to active customers.1

“With over 3 years of topping various performance charts on the internet Play, Dragonplay has effectively and consistently shown being able to acquire, monetize and retain social players by creating compelling games with endurance within the social casino space,” stated Bally’s Ceo Richard Haddrill. “We expect this proper acquisition to assist position Bally the main thing on social casino gaming by using the world-class content, including proprietary table games and award-winning video slots, on Dragonplay’s progressively popular social casino. Furthermore, with nearly all its revenues produced from mobile phones and pills, Dragonplay has shown amazing experience and leadership within the mobile space, the quickest growing segment of social gaming.”

Total consideration includes roughly $51 million in upfront cash, plus the quantity of internet capital, due to Dragonplay’s investors as a swap for all those released and outstanding equity, and roughly $49 million in earn-out consideration and worker retention obligations within the next 18 several weeks susceptible to Dragonplay meeting certain financial performance targets. Bally needs to finance the transaction from cash available and arises from its turning credit facility. For that 12 several weeks ended March 31, 2014, Dragonplay produced over $ten million in EBITDA (earnings before interest, taxes, depreciation and amortization, including share-based compensation).

Dragonplay’s Ceo Sharon Tal stated, “Dragonplay and Bally share complementary cultures centered on innovation and consumer experience. Both information mill dedicated to supplying unique which stimulates happy to gamers around the world that love playing entertaining casino-style games. I’m certain that using Bally’s huge library of proven slot and proprietary table game content will give you our loyal player base with a much more robust experience, that is likely to augment Dragonplay’s growth trajectory.”

Susceptible to completing certain customary closing conditions, Bally needs to shut buying of Dragonplay in This summer 2014 and needs buying to become accretive to Bally’s fiscal 2015 modified earnings per share.

Skadden, Arps, Slate, Meagher & Flom LLP and Meitar Liquornik Geva Leshem Tal are becoming a lawyer to Bally. The Raine Group is becoming financial consultant to Dragonplay, and Fenwick & West LLP and Talked, Magriso, Benkel & Co are becoming a lawyer to Dragonplay.