Exhibit 99.1

BALLY TECHNOLOGIES, INC. REPORTS THIRD QUARTER DILUTED EPS OF $0.43 ON REVENUE OF $191 MILLION

·                  ALL-TIME RECORD QUARTERLY GAMING OPERATIONS REVENUE OF $80 MILLION

·                  OVER 550 UNITS OF NEW VEGAS HITS™ GAME PLACED DURING THE QUARTER

·                  NEW UNIT AVERAGE SELLING PRICE (“ASP”) INCREASES BY 11 PERCENT TO $15,556, DRIVEN BY SALES OF PRO SERIES™ CABINETS WITH ALPHA 2™ TECHNOLOGY

LAS VEGAS, April 28, 2011 — Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management systems, and server-based solutions for the global gaming industry, announced today diluted earnings per share (“Diluted EPS”) from continuing operations of $0.43 and $1.31 on revenue of $191 million and $544 million for the three months and nine months ended March 31, 2011, respectively.

“We are pleased with our operational and financial positioning for the future,” said Richard M. Haddrill, the Company’s Chief Executive Officer.  “While current industry conditions remain challenging, we have a number of opportunities, both domestic and international, that are attractive and exciting for the Company.  Additionally, the early acceptance of our new Pro Series cabinets has been excellent, and we continue to be pleased with the strength of our gaming operations business.”

“Since the beginning of fiscal 2011, we purchased over two million of our shares for approximately $76 million,” said Neil Davidson, the Company’s Chief Financial Officer. “On April 6, 2011, the Board approved a share-repurchase program increase to $550 million, less amounts tendered in the recently launched modified ‘Dutch auction’ of up to $400 million.  We believe that our financial initiatives positively complement our business operations and further our commitment to creating long-term value for stockholders.”

Third Quarter Fiscal 2011 Highlights

(1)   Gross Margin from Gaming Equipment and Systems excludes amortization related to certain intangibles, including core technology and license rights, which are included in depreciation and amortization.

“We continue to be delighted by the strength in our gaming operations business, with another all-time revenue record set in the third quarter,” said Ramesh Srinivasan, the Company’s President and Chief Operating Officer.  “Bally placed more than 550 Vegas Hits games during the quarter, making Vegas Hits second only to Cash Spin as the fastest premium game release in the Company’s history.  Our Systems backlog, pipeline, and win-loss ratio levels also remain strong, despite disappointing weakness in year-to-date revenues.  Our recent Systems Users Conference held last month, where we demonstrated our leading-edge systems products live on a customer’s casino floor, has generated significant interest in our Systems products, especially our iVIEW DM™ and Elite Bonusing Suite™ applications.”

2

Highlights of Certain Results for the Three Months Ended March 31, 2011

Overall

·                  Selling, general and administrative expenses (“SG&A”) increased to 30 percent of total revenues as compared with 28 percent last year, primarily due to increases in payroll,  legal, and other expenses to support new markets.

·                  Research and development expenses (“R&D”) increased to 12 percent of total revenues as compared with 11 percent last year.

·                  Operating margin increased to 20 percent as compared with 18 percent last year.

·                  Adjusted EBITDA from continuing operations (earnings before interest, taxes, depreciation, and amortization, including asset impairment charges and share-based compensation), a non-GAAP financial measure, decreased to $61 million as compared with $67 million last year.

·                  Diluted EPS from continuing operations increased to $0.43 from $0.36 last year.  The prior year included an impairment charge of $0.13 per diluted share related to Alabama charitable bingo assets.

Gaming Equipment

·                  ASP of new gaming devices increased by 11 percent to $15,556 per unit from $13,979 last year, primarily as a result of product mix, including sales of Pro Series cabinets.

·                  New gaming device sales decreased to 3,417 units as compared with 4,571 units last year due to fewer international units sold during the quarter and a continued sluggish North America replacement market.

·                  New-unit sales to international customers were 29 percent of total new-unit shipments, as compared with 46 percent last year.

·                  Gross margin decreased to 43 percent from 51 percent last year due to higher costs for the initial production runs of the Pro Series cabinets as well as write-downs related to older technology platforms.

Gaming Operations

·                  Revenues increased 15 percent to an all-time record $80 million as compared with $70 million last year, driven by placements of new premium games throughout the quarter and the performance of our lottery systems installed base.

·                  Gross margin increased to 74 percent from 72 percent in the same period last year primarily due to lower jackpot expenses.

Systems

·                  Revenues were $47 million, up 2 percent compared to second quarter fiscal 2011, and lower when compared with $52 million last year, as a result of fewer large new implementations during the quarter.

·                  Gross margin increased to 77 percent from 75 percent in the same period last year primarily as a result of the change in mix of products sold and an increase in maintenance revenues.  Specifically, hardware sales were 34 percent of Systems revenues, and software and service sales were 31 percent, as compared to 36 percent for hardware and 35 percent for software and services in the same period last year.

·                  Maintenance revenues increased to a record $16 million as compared with $15 million last year.

Highlights of Certain Results for the Nine Months Ended March 31, 2011

Overall

·                  SG&A increased to 30 percent of total revenues as compared with 26 percent last year, primarily due to increases in payroll, advertising, legal, and other expenses to support new markets.

·                  R&D increased to 12 percent of total revenues as compared with 10 percent last year, due to increases in employees and development costs.

·                  Operating margin decreased to 20 percent as compared with 23 percent last year.

·                  Adjusted EBITDA from continuing operations decreased to $176 million as compared with $210 million last year.

·                  Diluted EPS from continuing operations decreased to $1.31 from $1.42 last year.  The prior year included an impairment charge of $0.13 per diluted share related to Alabama charitable bingo assets.

3

Gaming Equipment

·                  ASP of new gaming devices increased by 10 percent to $15,482 per unit from $14,134 last year, primarily as a result of product mix, including sales of Pro Series cabinets.

·                  New gaming device sales decreased to 9,708 units as compared with 13,504 units last year due to lower international sales during the period and a continued sluggish North America replacement market and fewer new openings and expansions.

·                  Revenues decreased to $174 million as compared with $210 million last year.

·                  New-unit sales to international customers were 31 percent of total new-unit shipments, as compared with 39 percent last year.

·                  Gross margin decreased to 47 percent from 51 percent last year due to higher costs for the initial production runs of the Pro Series cabinets as well as write-downs related to older technology platforms.

Gaming Operations

·                  Revenues increased 13 percent to an all-time record $236 million as compared with $210 million last year, driven by the placement of new premium games throughout the period and the performance of our lottery systems installed base.

·                  Gross margin increased to 72 percent from 71 percent last year.

Systems

·                  Revenues decreased to $134 million as compared with $163 million last year, due primarily to the timing of certain customer decisions regarding system purchases and installations and several large system implementations during the nine months ended March 31, 2010.

·                  Gross margin increased to 74 percent from 71 percent last year, primarily as a result of a change in the mix of products sold and an increase in maintenance revenues.  Specifically, hardware sales were 37 percent of Systems revenues, and software and service sales were 27 percent, as compared to 39 percent for hardware and 34 percent for software and services in the same period last year.

·                  Maintenance revenues increased to a record $48 million as compared with $43 million last year.

Fiscal 2011 Business Update

The Company reiterated fiscal 2011 guidance for Diluted EPS from continuing operations of $1.82 to $1.95, which includes $1.31 per diluted share from continuing operations earned during the first nine months of fiscal 2011.  This Diluted EPS guidance range does not reflect the impact of the pending stock tender offer and debt refinancing due to the uncertainty as to the number of shares that will be tendered.

The Company has provided this range of earnings guidance for fiscal 2011 to give investors general information on the overall direction of its business at this time.  The updated guidance provided is subject to numerous uncertainties, including, among others, overall economic and capital markets conditions, the market for gaming devices and systems, changes in gaming legislation, the timing of new jurisdictions and casino openings, competitive product introductions, complex revenue-recognition rules related to the Company’s business, and assumptions about the Company’s new product introductions and regulatory approvals.  The Company does not intend and undertakes no obligation to update its forward-looking statements, including forecasts, potential opportunities for growth in new and existing markets, and future prospects for proposed new products.  Accordingly, the Company does not intend to update guidance during the quarter.  Additional information about the factors that could potentially affect the Company’s financial results included in today’s press release can be found in the Company’s Annual Report on Form 10-K and quarterly reports on Form 10-Q.

4

Non-GAAP Financial Measures

The following table reconciles the Company’s income from continuing operations, net of tax, attributable to Bally Technologies, Inc., as determined in accordance with generally accepted accounting principles (“GAAP”), to Adjusted EBITDA from continuing operations:

Adjusted EBITDA from continuing operations is a supplemental non-GAAP financial measure used by the Company’s management and by some industry analysts to evaluate the Company’s ability to service debt, and is used by some investors and financial analysts in the gaming industry in measuring and comparing Bally’s leverage, liquidity, and operating performance to other gaming companies.  Adjusted EBITDA from continuing operations should not be considered an alternative to operating income or net cash from operations as determined in accordance with GAAP.  Not all companies calculate Adjusted EBITDA from continuing operations the same way, and the Company’s presentation may be different from those presented by other companies.

Earnings Conference Call and Webcast

As previously announced, the Company is hosting a conference call and webcast today at 4:30 p.m. EDT (1:30 p.m. PDT).  The conference-call dial-in numbers are 866-783-2145 or 857-350-1604 (International); passcode “Bally”.  The webcast can be accessed by visiting BallyTech.com and selecting “Investor Relations.”  Interested parties should initiate the call and webcast process at least five minutes prior to the beginning of the presentation.  For those who miss this event, an archived version will be available at BallyTech.com until May 27, 2011.

About Bally Technologies, Inc.

With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates, and distributes advanced technology-based gaming devices and systems worldwide.  Bally’s product line includes reel-spinning slot machines, video slot machines, wide-area progressives, and Class II, lottery, and central determination games and platforms.  As the world’s No. 1 gaming systems company, Bally also offers an array of casino management, slot accounting, bonusing, cashless, and table-management solutions.  Additional Company information, including the Company’s investor presentation, can be found at BallyTech.com.

This news release may contain “forward-looking” statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby.  Forward looking-statements are subject to change and involve risks and uncertainties that could significantly affect future results, including those risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.  Although the Company believes any expectations expressed in any forward-looking statements are reasonable, future results may differ materially from those expressed in any forward-looking statements.  The Company undertakes no obligation to update the information in this press release except as required by law and represents that the information speaks only as of today’s date.

— BALLY TECHNOLOGIES, INC. —

5

BALLY TECHNOLOGIES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS AND NINE MONTHS ENDED MARCH 31, 2011 AND MARCH 31, 2010

(1)   Cost of gaming equipment and systems excludes amortization related to certain intangibles, including core technology and license rights, which are included in depreciation and amortization.

6

BALLY TECHNOLOGIES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2011 AND JUNE 30, 2010

7