Industry replacement demand still bouncing along the bottom but BYI is making deals.
This morning BYI announced that it sold additional hardware and software to Morongo Casino Resort Spa, an existing BYI systems client. BYI will be installing 2,000 iVIEWs along with a suite of software that includes Business Intelligence, Bally Power Promotions and Power Winners, which together will allow the casino to offer floor-wide random progressive jackpots and chain-reaction rewards, and free play credits to slot machines on their floor.
Morongo also signed a contract with Cisco Systems to implement high-speed Ethernet on their floor. Ethernet will help optimize the use of iVIEW, allowing for faster streaming of bonusing games, promotions and other video content that the casino chooses to stream through the window. We estimate that this contract will generate approximately $3.5MM of revenue and $0.02-$0.03 cents of EPS. If the Ethernet enhances the Morongo’s ability to leverage iVIEW, we can expect further software upsales which will continue to enhance the recurring revenue stream that BYI receives from this system.