8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): September 2, 2008

BALLY TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Nevada	0-4281	88-0104066
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
6601 S. Bermuda Rd. Las Vegas, Nevada (Address of principal executive offices)		89119 (Zip Code)

Registrant’s telephone number, including area code:  (702) 584-7700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)

On September 2, 2008, Bally Gaming, Inc., a wholly-owned subsidiary of Bally Technologies, Inc. (the “Company”), and Mr. Michael Gavin Isaacs, the Company’s Chief Operating Officer, entered into an amendment (the “Amendment”) to Mr. Isaac’s existing Letter Agreement dated as of June 19, 2006 (the “Original Agreement”).  Pursuant to the Amendment, effective as of September 1, 2008, Mr. Isaacs base salary was increased to $600,000 per year.  The Amendment also effected certain changes to the non-competition and non-solicitation covenants in the Original Agreement.

The foregoing summary is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits

10.1First Amendment to Letter Agreement by and between Bally Gaming, Inc. and Michael Gavin Isaacs dated September 2, 2008.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BALLY TECHNOLOGIES, INC.
By:	/s/ Mark Lerner
	Mark Lerner, Secretary
Dated: September 5, 2008

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EX-10.1

Exhibit 10.1

First Amendment to Letter Agreement

This First Amendment is entered into this 2nd day of September, 2008, by and between Bally Gaming, Inc., a Nevada corporation (the “Company”) and Michael Gavin Isaacs (“Employee”).

RECITALS

A.The Company and Employee entered into a letter agreement dated June 19, 2006 (the “Agreement”) which provides for the employment of Employee by the Company.

B.The Company and Employee desire to amend the Agreement as set forth herein.

NOW THEREFORE, the parties hereby agree as follows:

1.The first two sentences of Section 2(B) of the Agreement are hereby deleted in their entirety and replaced with the following:

Your base salary will be $600,000 a year beginning on September 1, 2008. Thereafter, your performance and salary will be reviewed by the CEO and or the Board of Directors as they determine appropriate.

2.The second and third sentences of Section 3(A) of the Agreement are hereby deleted in their entirety and replaced with the following:

You agree not to compete with the Company for two years after your employment with the Company terminates if the Company terminates you for Cause or if you quit for any reason other than in accordance with Section 2(E)(a) of this letter agreement.

If you are terminated without Cause or you terminate your employment under the circumstances described in Section 2(E)(a) of this letter agreement, you agree not to compete with the Company for one year following your termination.  Notwithstanding anything herein to the contrary, the Company, in its sole discretion, may extend such one-year period to two years following your termination by notifying you of such extension at any time prior to the last day of such one-year period and agreeing in connection with such extension to continue to pay you Salary Continuation until the end of such two-year period.

3.The first sentence of Section 3(B) of the Agreement is hereby deleted in its entirety and replaced with the following:

You agree that during your employment with the Company and for two years after your employment ends for any reason, you shall not, directly or indirectly, (i) aid or endeavor to solicit or induce any other employee or consultant of the Company to leave the Company to accept employment of any kind with any other person or entity, or (ii) solicit the trade or patronage of any of the Company’s customers (which includes customers of any of the Company’s subsidiaries or

affiliates) or of anyone who has traded or dealt with the Company with respect to any technologies, services, products, trade secrets, or other matters in which the Company is active.

4.All remaining provisions of the Agreement, other than those expressly modified in this First Amendment, remain in full force and effect.

(signature page follows)

This First Amendment is effective September 1, 2008 and is dated the date first written above.

COMPANY		EMPLOYEE
Bally Gaming, Inc.
By	/s/ Richard Haddrill	By	/s/ Michael Gavin Isaacs
Richard Haddrill		Michael Gavin Isaacs