Bally Technologies is to sell its Rainbow Casino in Vicksburg, Mississippi, US, to Isle of Capri Casinos for $80m in order to focus on game development.
The transaction, which is expected to be completed before June 30, 2010, will bring to an end Bally’s 16-year involvement in running the casino.
Richard Haddrill, chief executive officer of Bally, said the company had enjoyed great deal of success operating the property.
"We are very proud of the property and our team of employees," he said. "However, it is important that we focus on our core business of providing industry-leading games and systems technology, and we are confident that under the ownership of Isle of Capri, Rainbow and its employees will be in very competent hands."
James B Perry, chairman and chief executive officer of Isle of Capri, added: "Rainbow is a successful property with a solid core business that will fit very well into the Isle portfolio and benefit from the operational expertise of our management team."
To coincide with the deal, the two companies announced an enterprise-wide agreement to install a full suite of Bally systems at Isle of Capri’s properties. Under the terms of the deal, Bally will install its SDS slot management system and, depending on individual property needs, an array of its marketing, player communication and media-management solutions.
