August 1, 2014 marked a historic day as we announced our strategic decision to combine our business with Scientific Games (SGMS), a global leader in gaming technology and innovations. On August 1, 2014, we issued a news release that announced that our two companies have entered into a definitive agreement with the approval of both boards of directors.
I am incredibly proud of our more than 4,000 employees around the globe who, in partnership with our customers, have pushed gaming innovation and customer service to new levels over the past 10 years. With approximately 5,200 employees, Scientific Games has been at the forefront of gaming innovation for over 40 years. Like Bally, Scientific Games focuses on creating both entertaining player experiences through high-performing content and state-of-the-art technological solutions to increase productivity on the casino floor. Culturally, Scientific Games and Bally are a natural fit. Both companies share a customer-centric focus and commitment to innovation. These pillars of our respective success will remain a core part of everything we do as a combined company.
Today's announcement builds on our proud legacy and Scientific Games' many decades of industry leadership. As we embark on this exciting new chapter for Bally, I am confident that this transaction will provide us with the opportunity to reinforce our relationships with you and leverage our strengths to better serve your operational needs.
The transaction is subject to approvals, including approval from Bally's shareholders, required regulatory approvals, and other customary closing conditions. At this time, we expect the transaction to close sometime in early calendar 2015. Until then, we will operate as separate companies, which means it is business as usual here at Bally.
We will keep you posted on our progress. In the interim, please feel free to contact your Bally sales representative if you have any questions.
I would like to thank you for your support over the years and look forward to continuing to partnering with you in the future.
Chief Executive Officer