The company announced plans in September to wind down some of its smaller operations, closing the Trolley Stop in December 1995, ending the Mizpah Hotel lease in April 1996, and selling the taverns it had acquired in the course of slot route operations. In December, the company decided, after performing due diligence, not to make an offer for the Diamond Jo. With Kirkland's backing in place, analysts expected the company to execute a major merger. United was cited as a possible suitor to buy Casino Magic, Caesars World, or Circus Circus. In December 1994, United changed its name to Alliance Gaming Corporation, to reflect the company's "revitalization and redefinition". Alliance began seeking ways to apply its marketing strength in the equipment business. Company executives felt there was a market opportunity in new riverboat and Indian casinos, where a slot maker could compete for "shelf space" without having to convince casino managers to switch from machines built by IGT, the market leader with a 70 percent share. CEO Steve Greathouse felt that machines could be made more fun, more interactive, and therefore more profitable, in contrast with IGT, whose executives believed that slot gamblers were "not playing to be entertained". Starting from scratch against such a dominant competitor was daunting though, so Alliance looked for an acquisition. The natural choice was Bally Gaming International, the number two player with a 15 to 20 percent share. Kirschbaum had contacted Bally Entertainment about a merger as early as 1993, but Bally's CEO rebuffed him because of Alliance's heavy debt load and lack of earnings, suggesting they "develop their company a bit". Talks began again in October 1994, until Alliance broke them off in February 1995. Bally reached out to Alliance the next month through Rainwater, who discussed possibilities including a three-way merger with Autotote, a maker of lottery and pari-mutuel wagering technology. In June 1995, with Bally already considering a buyout offer from WMS Industries, Alliance made an unsolicited offer of $210 million in cash, stock, and assumed debt. Days later, Bally's board of directors accepted WMS's offer of $120 million in stock, conditioned on Bally selling its German subsidiary, Bally Wulff, for at least $55 million. Bally called Alliance's offer "illusory and highly conditional" on financing, and said that WMS stock would give shareholders more long-term value than Alliance stock, and that a combination of Alliance and Bally would be so undercapitalized as to raise licensing concerns among gaming regulators.