Cadaco has been manufacturing this game since the 30's (a very similar 1/2 court game was put out by Whitman in the 20's). Cadaco changed the artwork a number of times over the years but the game play is still the same as it was when it first came out 60+ years ago.
I am pretty sure this is the very first edition of the game. All the parts that have dates state 1938 on them and the illustration on the inside of the box cover that shows how to play the game depicts the same artwork on the backboards as is seen on the game parts inside the box. Later versions of the game with the same date have different artwork on the box lid than is depicted on the game parts inside. Also the game mechanism is built around a sturdy wood frame, not the cardboard frame used on later editions. If this is not the very first edition it is surely one of the earliest. I have never come across one like it before.
The game parts are in VERY GOOD-EXCELLENT condition. The game is 100% complete. It includes the playing field (with all but one of the levers in perfect working order), 2 backboards with very nice period artwork, 2 intact net baskets and the ball. The lever for the center shooter on one side is missing it's spring so it does not function properly. Otherwise everything works as it should. The court looks really sharp. No significant creases, stains or writing. There is a small "worm-hole" near one end. The frame is intact. The backboards have some scuffing at the bottom where the slide into the game box to set up for game play but that is to be expected. They otherwise show little wear. The artwork is very attractive with no fading or staining. Nets are intact. Ball has no dents or cracks. Overall I would grade the game parts 6-7 on a 10 scale (see condition guide below).
The game box is in GOOD condition. It is structurally sound with only one split corner. Other than a small hole at the bottom edge of the lid there are only a few scrapes and light creases. There appears to be one pencil mark at the left side. The major issue is that there is discoloration/foxing. Perhaps this could be cleaned up but I am not going to attempt it. Even with this flaw the artwork is still fairly attractive. I would grade it a 4 on a 10 scale (see condition guide below).
MINT (10): I will only give this grade to brand new, unused items. NEAR MINT (9): Shows virtually no use. Seldom if ever played. Perhaps some very light handling creases to the instructions or other minor flaws with the game parts. Boxes will have only the slightest hint of shelf wear. EXCELLENT (7-8): The game has seen some use but it was obviously well taken care of. Game parts might have some light handling creases or other signs of careful use. Board might have just a hint of color loss or dented corners. Boxes will have light rubbing to the artwork or perhaps some minor dishing or a very light stain. VERY GOOD (5-6): The game was not especially well cared for but it still has faired pretty well. Game parts will show obvious use but nothing will be torn, badly stained or have any serious damage. Box may have some rubbing, light staining, dishing, 1 or 2 neatly split corners, minor writing and/or a few pieces of tape. No major structural damage and artwork will still be generally attractive. GOOD (3-4): Obviously no care was taken with the game but it is still playable as is. Game parts show considerable use but the game is complete with all parts in usable condition. Box may have staining, writing, split corners, dishing and/or other structural damage but it will be intact and still usable. POOR (1-2): Only suitable to fill a space in your collection. Game will be missing parts (these will be noted). Box will have serious damage and may be missing aprons or badly torn.