Tuesday, August 15, 2006

How Was "Bally's" Named?

From Wikipedia:

Bally Technologies, Inc. (originally the Bally Manufacturing Corporation) is an American corporation. The company has existed for more than 70 years with a complex history of re-organizations, mergers, and divestitures; it had roots as an early and successful maker of pinball games and slot machines, and was later associated with both the health club and gambling industries.

The Bally Manufacturing Corporation was founded by Raymond Moloney on January 10, 1932 when Bally's original parent company, Lion Manufacturing, established the company to make pinball games. The company took its name from its first, highly successful, game, dubbed Ballyhoo. The company, based in Chicago, quickly became a leading maker of the popular games.

In the late 1930s, Moloney decided to begin making gambling equipment, and had great success developing and improving the modern mechanical slot machines that formed the backbone of the nascent gaming industry.

After a wartime foray into manufacturing munitions and airplane parts, Bally Manufacturing continued to produce innovations in both pinball and slot machines through the late 1950s, and also designed and manufactured vending machines and established a coffee vending service. Ray Moloney died in 1958 and the company foundered briefly; amid the financial failure of parent company Lions Manufacturing Bally was bought out by a group of investors in 1963. Through the 1960s Bally continued to dominate the slot machine industry, cornering over 90% of the worldwide marked for the machines by the end of the decade.

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posted by Staff @ 4:56 PM