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Fitch Rates Bally's New Credit Facility 'BB+'

NEW YORK-(Business Wire)-October 3, 2008 - Fitch Ratings has assigned a 'BB+' rating to Bally Technologies, Inc.'s (Bally's) new $300 million credit facility. The credit facility rating is two notches above Bally's 'BB-' Issuer Default Rating (IDR) due to Fitch's view of strong over-collateralization of that debt. The Rating Outlook is Positive.

The four-year credit facility consists of a $75 million revolver and a $225 million term loan, which continue to be secured by all domestic subsidiaries except the entity that holds Bally's interest in the Rainbow Casino in Vicksburg, MS. The credit facility was initially priced at LIBOR+325 basis points and was used primarily to refinance its previous term loan that had $290 million outstanding as of June 30, 2008. At closing of the transaction, Bally maintained $25 million of undrawn availability on the new revolver.

Notable financial covenants include:

—Leverage ratio: 2.5 times (x) through March 31, 2009, which drops to 2.25x through March 31, 2010 before hitting the floor at 2.0x through June 30, 2010;

—Fixed charge coverage ratio of 2.0x;

—Additional indebtedness: Bally is permitted to issue $150 million of senior unsecured debt;

—Dividends: Bally is permitted to pay up to $50 million annually in dividends if leverage is above 1.0x and up to $70 million if leverage is below 1.0x.

Please see Fitch's July 24, 2008 Credit Analysis for additional detail on Bally's credit, available on the Fitch web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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