Trumped earlier by a rival gambling-machine maker, Alliance Gaming Corp. launched a hostile offer for Las Vegas casino operator Bally Gaming International Inc.
Under the plan, Alliance will offer to buy up to 4.4 million shares of Bally Gaming at $12.50 a share. If accepted by shareholders, the offer would thwart a merger deal signed last month between Bally Gaming and WMS Industries Inc. of Chicago.
Alliance, a Las Vegas-based maker of gambling machines, said it already owns 1 million shares, or 9.3 percent, of Bally Gaming’s 10.75 million outstanding shares, and the additional shares would give it a controlling interest.
Last month, Bally Gaming signed a definitive deal with WMS, under which its stockholders will receive 0.55 shares of WMS Industries, a maker of pinball and video games, for each outstanding share of Bally.
Alliance asked Delaware’s Chancery Court to enjoin Bally from proceeding with the merger with WMS. Alliance wants Bally to hold a meeting to give stockholders a chance to consider its offer.
