Bally Technologies, Inc. (BYI) said Friday that its Board of Directors has approved a new $150 million share repurchase program.
The new program replaced the company's prior $550 million stock repurchase program under which Bally had repurchased about $493 million of common stock.
Since November 2007, Bally has repurchased about 19 million shares of common stock for $722 million, including $95 million during fiscal 2012 to date.
"The repurchase authorization reflects the confidence that the Board and the executive management team have in Bally's long-term growth plan and ability to consistently generate free cash flow to support our capital deployment strategy," said Richard Haddrill, Bally's Chief Executive Officer.
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