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Bally Mulls Sale of Vicksburg Casino

LAS VEGAS-The locally headquartered gaming company engages Credit Suisse Securities (USA) LLC to evaluate the potential sale of Rainbow Casino.

By Brian K. Miller | Updated on October 26, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

LAS VEGAS-Bally Technologies has retained Credit Suisse Securities (USA) LLC to evaluate the potential sale Rainbow Casino in Vicksburg, MS, its only gaming property. The locally based public company is focusing on making slot machines, video gaming machines and related computer systems.

Gaming analyst Harry Curtis of JP Morgan Securities told clients in an email Thursday morning that comparable transactions suggest that Bally could sell the Rainbow Casino for seven times his 2008 fiscal year EBITDA estimate of $22 million, which equates to $154 million.

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