Scientific Games Corp. agreed to acquire Bally Technologies Inc. for about $3.3 billion, excluding net debt, buying up a bigger rival as consolidation in the slot-machine industry accelerates.

Scientific Games, controlled by billionaire Ronald Perelman, who serves as chairman, will pay $83.30 in cash per Bally common share, the companies said in a statement today, a premium of 38 percent over Bally’s closing price yesterday.

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