Bally Technologies intends to keep cashing in on the global popularity of gaming but wants to keep gambling out of its treasury. Like many middle-market companies, the $880 million designer, manufacturer and distributor of gaming devices is making money in a precarious global market where currencies swing wildly in value, often daily, and one major currency’s survival may be in doubt. So Scott Edgeworth, the Las Vegas-based company’s controller for treasury and risk management, is hedging its bets, something that seemed unnecessary until three years ago.
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Follow these 4 steps to help protect profit and avoid currency related losses while doing business across borders.
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