Inside Asian Gaming

INSIDE ASIAN GAMING | December 2010 46 Briefs International Briefs in continuing the growth of our industry-leading R&D efforts and portfolio of world-class gaming products. We look forward to welcoming Randy and his Aurora Design group to Bally.” Hedrick previously served as Senior Vice President of Labs for IGT. He left IGT 20 months ago to become President of Aurora Design, Inc, a Reno, Nev.-baseddesign studio that develops advanced technology applications for the global gaming industry, focusing on community gaming, new product creation, and intellectual property strategies and licensing. Five of Hedrick’s team members at Aurora Design will join him at Bally, where he will lead a team focused on integrating sophisticated applications being developed by Bally for commercial deployment throughout the gaming industry. His Reno-based team will also focus on special projects outside the scope of mainstream product development in support of Bally’s Innovation Lab, reporting to Walt Eisele, Bally’s Vice President of Technology. WMS named one of America’s best small companies by Forbes WMS Industries Inc was named to Forbes ’ 2010 list of “America’s 100 Best Small Companies,” based on its sales and earnings growth and return on equity in the past twelve months. In determining America’s 100 Best Small Companies, Forbes ’ methodology considered publicly traded companies with annual revenues between US$5 million and $1 billion and a stock price above $5 a share. The ranking was based on earnings growth, sales growth and return on equity in the past 12 months and over 5 years. Forbes also factored in the comparative share price performance of each company with its competitors. Over its past five fiscal years, WMS increased its industry ship share and generated compound annual revenue growth of 14.5% and compound annual earnings per share growth of 24.8%. By consistently implementing continuous improvement initiatives over this period, annual operating margins grew to 21.9% in fiscal 2010 from 7.9% in fiscal 2005. Nevada casino revenue should rise by 2012 Nevada’s gaming revenues will return to pre-recession levels in 2014, according to a report released by auditing and consulting firm PricewaterhouseCoopers (PwC) on 7th December. While PwC expects the state’s gaming industry will report a 2.9% decline in 2010, it predicts it will start seeing mid-single-digit gains between 2012 and 2014. The Nevada gaming market, which includes Las Vegas and smaller areas such as Laughlin and Reno, is expected to grow at a rate of 4.1% annually, from US$10.2 billion last year to $12.5 billion in 2014, the report says. “The gaming industry is facing an evolution, which presents both challenges and opportunities for the industry’s established players and those considering the market,” said Mary Lynn Palenik, director of gaming, entertainment, media and communications practice at PwC US. Nevada regulators ready to revisit online gaming According to the Las Vegas Review-Journal , Nevada gaming regulators are prepared to revisit the issue of online gaming within the state should efforts to overturn federal laws prohibiting Internet poker be successful. “We do have a statute in Nevada that would allow for onlinegambling,”NevadaGaming Control Board Chairman Dennis Neilander said. “It’s something we’ve given quite a lot of thought to over the years.” In 2001, Nevada passed legislation that allowed the Nevada Gaming Commission, working with the Control Board, to adopt regulations governing the licensing and operation of online gaming in the state. Mr Neilander said there were three issues the state law needed to answer before it could be implemented, though, including if online gaming could be done in compliance with all federal laws. “We could never meet that criteria, so we didn’t move forward,” he said. Mr Neilander said if Senate Majority Leader Harry Reid’s efforts to legalize online poker are successful, the state would be ready to proceed. Before such regulations can be adopted, the state law requires regulators to determine if the federal law is “consistent with the public policy of Nevada,” and are there proper security measures to “restrict access from prohibited jurisdictions and to keep minors from wagering,” he said. On 3rd December, Mr Reid, D-Nev., began circulating a draft bill to legalize online poker. Sports wagering and other forms of gaming would still be illegal. The bill would also outsource oversight to state regulators and send taxes to both state and federal governments. Mr Neilander said the Nevada Control Board and Gaming Commission would “not take a position” on Mr Reid’s proposal. Bally appoints Randy Hedrick as VP of Development Bally Technologies, Inc, announced that respected gaming-industry executive Randy Hedrick will join the company in December 2010 as Vice President of Development. “Randy Hedrick is a true superstar in our industry,” said Richard Haddrill, Bally Technologies’ CEO. “As a veteran of all aspects of product development within the gaming industry, he brings a wealth of knowledge and experience which will be instrumental Randy Hedrick