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A year later, a new factory was built in Las Vegas, and the exodus of jobs from Chicago began. Bally was, by any measure, the largest gaming company on Earth at this point, but keeping the juggernaut moving in the right direction required lightening the load. Unfortunately, when CEO Bill O’Donnell made his first move to establish a Bally-exclusive casino in New Jersey, he left the rapidly growing company vulnerable to a level of scrutiny that might best have been avoided. The Moloney era at Bally ended on a particularly sad note, as the sale of the business was quickly followed by the death of Ray Moloney, Jr., at the age of just 42. There was also some questions about the new investment group that acquired the business, led by longtime Bally employee William O’Donnell, and how it had scraped together $1.2 million out of the ether. Notably, Ray recruited his own father, Daniel “D. J.” Moloney—the former Cleveland steel worker—to come out of retirement and organize the “small army” required to move machines and materials into the new building.
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Examples of such items are plant, equipment, patents, goodwill, etc. Valuation of net fixed assets is the recorded net value of accumulated depreciation, amortization and depletion. Following growth in January and February, Las Vegas gaming industry analysts say some estimates for gross gaming revenue and cash flow are conservative. Las Vegas-based Everi Holdings’ third-quarter revenue was up 21.4 percent to $204.3 million, beating analysts’ expectations by 4 percent, and net income was up 336 percent year over year to $29.4 million.
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