OTHER NEWS - June 23, 1995

Bally Gaming Accepts WMS Takeover Offer: The nation’s second-largest slot machine maker said it accepted the offer by WMS Industries Inc. of Chicago, subject to regulatory and stockholder approval, even though that offer was less than a rival bid by Las Vegas-based Alliance Gaming Corp. WMS will offer 0.55 share of common stock for each Bally Gaming International Inc. share, or a total of about $114.5 million, based on Bally’s 10.75 million outstanding shares and WMS’ Thursday stock price. That is less than the exchange ratio of 0.60 share, valued at about $127 million, in a stock deal the companies struck in April. Shares of Las Vegas-base Bally Gaming fell 62.5 cents to $10.50 and Alliance was unchanged at $6.125, both on Nasdaq. WMS eased 25 cents to $19.375 on the New York Stock Exchange.