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BALLY MANUFACTURING AND BALLY GAMING INTERNATIONAL ANNOUNCE THE OFFERING OF 4 MILLION SHARES OF BALLY GAMING INTERNATIONAL COMMON STOCK

BALLY MANUFACTURING AND BALLY GAMING INTERNATIONAL ANNOUNCE THE OFFERING
 OF 4 MILLION SHARES OF BALLY GAMING INTERNATIONAL COMMON STOCK
 CHICAGO, July 9 /PRNewswire/ -- Bally Manufacturing Corporation (NYSE: BLY) and Bally Gaming International, Inc. (NASDAQ: BGII) announced today the commencement of an offering of 4 million shares of common stock of Bally Gaming owned by Bally Manufacturing at a price of $12-1/8 per share. The shares to be sold represent approximately 38 percent of the outstanding common stock of Bally Gaming. All of the net proceeds of the offering will be received by Bally Manufacturing. Bally Gaming International, Inc. will not receive any of the proceeds of the offering.
 The offering is being made through a syndicate of underwriters led by Salomon Brothers Inc. and Raymond James & Associates, Inc. Bally Manufacturing has granted the underwriters an option to purchase up to 600,000 additional shares of Bally Gaming common stock to cover over allotments. Upon completion of the offering, Bally Manufacturing will own approximately 27.6 percent of the outstanding common stock of Bally Gaming (approximately 21.9 percent if the underwriters' over-allotment option is exercised in full).
 Bally Gaming International, Inc. manufactures and distributes gaming machines worldwide.
 Bally Manufacturing is one of the world's foremost operators of casino hotels and fitness centers.
 -0- 7/9/92
 /CONTACT: Michael M. Kempner or Stan Steinreich of MWW/Strategic Communications, 201-342-9500, for Bally Manufacturing/
 (BLY BGII) CO: Bally Manufacturing Corp.; Bally Gaming International Inc. ST: Illinois IN: CNO SU: OFR


TS -- NY042 -- 8119 07/09/92 11:30 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
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