GAMING

Hostile Offer for Bally Made: Alliance Gaming Corp. launched a bid worth more than $200 million for Las Vegas casino operator Bally Gaming International Inc., which has already signed a merger deal with WMS Industries Inc. Under the plan, Alliance would buy up to 4.4 million shares of Bally Gaming at $12.50 apiece. Alliance, a maker of gambling machines, said it already owns 1 million shares, or 9.3% of Bally Gaming’s 10.75 million shares outstanding, and that the additional shares would give it a controlling interest. Bally Gaming stock rose 75 cents to close at $10.625 on the Nasdaq market. Alliance’s stock rose 12.5 cents to $5.375, also on the Nasdaq, and WMS Industries rose 50 cents to $21.375 on the New York Stock Exchange.