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News Summary: Bally to buy SHFL for $1.31B

The Associated Press

THE DEAL: Bally Technologies Inc. is buying SHFL entertainment Inc. for about $1.31 billion in cash.

THE BUYER: Bally, originally founded as a pinball machine maker, started making slot machines in 1936. It now makes technology-based gambling devices and systems. The company also provides casinos with a variety of data management software applications and tools.

THE TARGET: SHFL, known for its automatic card shufflers, makes a variety of casino equipment, along with proprietary table, electronic table and online games.