In Vegas, it signed a long-term lease for 6655 Bermuda, a 35,000-square-foot office building most recently occupied by Carter Burgess, a Texas-based company that was acquired in late 2007 by publicly held Jacobs Engineering Group. The building changed hands for $7 million or $197 per square foot in mid-2006; IS Peppermill LP of Florida acquired the building from David M. Johnson.

The two-story, class B building will be filled with 175 game development, advanced development, and project management employees, creating a more collaborative work environment while opening up room in the 150,000-square-foot corporate headquarters building it owns next door. Bally will use the freed up space to expand showrooms and conference rooms at its headquarters so it may better accommodate customers when they visit the facility, a company source tells GlobeSt.com.

"The property is leased over a long-term basis which, including options, spans more than 20 years," Bally's Chief Operating Officer Gavin Isaacs says in a prepared statement. "Along with a smaller building across Bermuda Road housing about 100 employees, we truly have created a Las Vegas campus environment in a great location in the Hughes Airport Industry Center five minutes from the airport. Recent upgrades to the landscape and main lobby are being followed by remodels of our showrooms and customer conference center during the early part of fiscal 2010."

The new lease in Reno is a 41,000-square-foot facility at 900 Sandhill Rd., adjacent to Bally's current facility there at 950 Sandhill Rd, which houses 340 mostly R&D, customer service, product management, and various technical support and administrative personnel. The space was being marketed for sublease by GameTech International as recently as March 2009, according to LoopNet; the lease was set to expire in January 2010. Gametech relocated its headquarters to a larger building in May. Bally says it signed a long-term lease, which presumably means it signed a direct deal with the building owner. Tenant improvements are scheduled for completion in September.

Bally designs, manufactures, operates and distributes gaming systms and casino management software. The Company also owns and operates Rainbow Casino in Vicksburg, Miss.

In June, Bally reported the results from the first nine months of its 2009 fiscal year, which concludes in August. Through the first nine months ended May 3 compared to the same year-earlier period, Bally's revenue increased 4% to $678 million while net income jumped more than 22% to $93 million. The company's share price now stands at 28.91, up $0.59 in afternoon trading Friday. The company's share price has increased by $3 since the start of the year.