Bally Announces Acquisition of Social Gaming Company

Slot machine giant Bally Technologies announced Thursday it would pay up to $100 million to acquire a social gaming company. Bally said it would purchase Dragonplay, an Israel-based social gaming business, which is considered one of the industry’s top 10 grossing social game developers with 700,000 active daily users and 3 million monthly users. Bally will pay $51 million in cash and up to $49 million over the next 18 months. The transaction is expected to close next month. The deal puts Bally, a traditional slot machine manufacturer, into the growing social gaming market, joining rival International Game Technology and…