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.
First, the London interbank offered rate (commonly known as Libor) is going up. And second, the dollar’s been going down. Until mid-October, the…
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