Scientific Games’ Acquisition of Bally Technologies at a Standstill

Scientific Games’ potential acquisition of Bally Technologies could be at a standstill after reports on Monday that JPMorgan Chase & Co. has postponed the syndication of $3.19 billion in loans to finance the purchase.

Scientific Games shares dropped after failure to generate enough investor interest by the October 3 deadline.

The banks have announced a fall-back position revealing the successful marketing of separate loans to supplement the acquisition.

Scientific Games announced its agreement to acquire outstanding Bally common stock in August.

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    I thought Bally's was acquiring Scientific Gaming not the other way around? I guess I have not been reading these articles close enough. Or is this a mistake? And again JP Morgan is the lender? Are they still in an up roar over the Obama saving the banks issue? Don't they owe the government a lot of money for spending the money the government gave to them inappropriate? What ever happened to that? JP Morgan should be careful with the money they loan.

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