SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Isaacs Michael Gavin

(Last)

(First)

(Middle)

6601 BERMUDA ROAD

(Street)

LAS VEGAS

89119

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/01/2006

3. Issuer Name and Ticker or Trading Symbol
BALLY TECHNOLOGIES, INC. [ BYI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & COO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Bally Technologies,Inc.Common Stock,$.10 par value per share	50,000⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Options (Right To Buy)	⁽²⁾	09/01/2016	Common Stock, $.10 par value per share	150,000	$15.73	D

Explanation of Responses:

1. Grant of restricted stock pursuant to the Employment Agreement by and between Bally Technologies, Inc. (the "Company") and Michael Gavin Isaacs, dated as of June 19, 2006. Per the terms of the Employment Agreement, the restricted stock shall vest as follows: (i) 25,000 shares vest on September 1, 2008, (ii) 12,500 shares vest on September 1, 2009 and (iii) 12,500 shares vest on September 1, 2010, in each case subject to Mr. Isaacs' continuous employment as the Company's Executive Vice President and Chief Operating Officer through each such date.

2. Per the terms of the Employment Agreement, the 150,000 options shall vest in four equal installments of 37,500 options on the following dates: (i) September 1, 2007, (ii) September 1, 2008, (iii) September 1, 2009 and (iv) September 1, 2010, in each case subject to Mr Isaacs'; continuous employment as the Company's Executive Vice President and Chief Operating Officer through each such date.

	Michael Gavin Isaacs	09/06/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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