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Galaxy Gaming Reports Q2 2019 Financial Results

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Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems, announced today its financial results for the fiscal quarter and half-year ended June 30, 2019.

Financial Highlights

Q2 2019 vs. Q2 2018

  • Revenue increased 19% to $5,399K
  • Adjusted EBITDA increased 45% to $2,405K1
  • Net income of $1,055K vs. net loss of $(596)K

H1 2019 vs. H1 2018

  • Revenue increased 21% to $10,746K
  • Adjusted EBITDA increased 38% to $4,424K2
  • Net income of $1,516K vs. net loss of $(60)K 

Balance Sheet Changes (vs. December 31, 2018)

  • Cash increased 29% to $8,172K
  • Total debt (gross) increased 376% to $48,562K due to the May 2019 stock redemption
  • Stockholders’ deficit of $(29,591)K vs. stockholders’ equity of $7,457K due to the May 2019 stock redemption

Executive Comments

“Q2 2019 was a very good quarter for us at both the revenue line and the expense line.  As a result, quarterly net income exceeded $1 million for the first time in our history,” said Todd Cravens, Galaxy’s President and CEO. “We saw year-over-year revenue growth in all of our continuing product lines, with especially good growth in progressives and iGaming. Looking ahead, we will have our largest booth ever at G2E in October and will be showing a number of exciting new games and electronics products.”

“The stock redemption transaction we completed in May 2019 significantly changed our balance sheet, but the underlying business fundamentals are intact,” stated Harry Hagerty, Galaxy’s CFO.  “Our growing EBITDA and free cash flow have allowed us to comfortably service our bank debt, and we feel confident that we will also be able to comfortably cover the interest expense on the redemption debt (which has no principal payments until 2029) and other operating needs.”

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Galaxy cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those listed from time to time in reports that Galaxy files with the Securities and Exchange Commission.

About Galaxy Gaming

Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.  Through its iGaming partner Games Marketing Ltd., Galaxy Gaming licenses its proprietary table games to the online gaming industry.  Galaxy’s games can be played online at FeelTheRush.com.  Connect with Galaxy on Facebook, YouTube  and Twitter.

Contact:
Media: John Strickland (702) 938-1753
Investors: Harry Hagerty (702) 938-1740

1 Adjusted EBITDA in Q2 2019 includes an addback for approximately $170K of legal and other expenses related to our review of strategic alternatives, litigation expenses related to the May 2019 stock redemption transaction and certain other non-recurring expenses.

2 Adjusted EBITDA in H1 2019 includes an addback for approximately $766K of legal and other expenses related to our review of strategic alternatives, litigation expenses related to the May 2019 stock redemption transaction and certain other non-recurring expenses.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Galaxy Gaming Reports Q2 2019 Financial Results

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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BETBY REDEFINES CHESS BETTING WITH EXPANDED MARKET OFFERING AHEAD OF ESPORTS WORLD CUP DEBUT

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BETBY, the innovative sportsbook supplier, is redefining how chess is experienced in the betting world, launching an innovative suite of markets designed to deepen engagement and bring fresh energy to one of the world’s oldest strategy games.

Marking a new chapter for chess within the iGaming space, BETBY’s upgraded betting content portfolio goes far beyond traditional markets like outright winner or total moves. Bettors can now engage with detailed, event-specific outcomes including the first move made, the first piece captured, number of checks, castlings, and whether a game will feature a pawn promotion, an en passant, or end in stalemate. Several markets also focus on the timing of critical moments, such as whether a checkmate will occur before a certain move, offering more dynamic, real-time decision-making for players.

This launch follows six months of dedicated product development across BETBY’s chess vertical and reflects the company’s long-term vision for the game as a core part of its sportsbook strategy. With chess now officially included in the Esports World Cup, the timing marks a natural convergence of two verticals where BETBY continues to strengthen its position: esports and traditional chess.

As part of this expansion, BETBY is also introducing another exclusive: live betting on the Top Chess Engine Championship (TCEC), a prestigious AI-based tournament. While the event follows a defined schedule, it opens up a new betting experience through intense matchups between powerful engines, enriching the overall chess offering.

Currently, BETBY offers pre-match coverage for around 20 chess tournaments per month, totaling approximately 400 matches. The addition of these expanded markets marks a strategic leap forward in delivering a modern, high-engagement chess product to sportsbook partners and players.

“Chess has always been a passion of ours, and today we’re proud to announce the launch of a truly comprehensive chess offering,” said Kirill Nekrasov, Head of Sportsbook Product at BETBY. “By expanding our market depth and introducing innovative tournaments, including both traditional and AI-driven formats, we’re giving our partners and players a completely new way to engage with the game. Our vision is ambitious: we want chess and betting to become synonymous, to the point where no modern sportsbook feels complete without chess markets. We’ve already done this with Betby.Games and esports, now it’s time to do the same with chess.”

BETBY’s long-term global brand ambassador, five-time world chess champion Magnus Carlsen, will represent Team Liquid at the Esports World Cup. His participation in the tournament, which begins on July 7th, reinforces chess’s growing presence in global esports and its potential as a premium betting vertical.

The post BETBY REDEFINES CHESS BETTING WITH EXPANDED MARKET OFFERING AHEAD OF ESPORTS WORLD CUP DEBUT appeared first on European Gaming Industry News.

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BETBAZAR facilitates agreement to integrate Platipus slots with Agreegain Limited

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World’s leading B2B marketplace BETBAZAR brokers new agreement enabling the full integration of Platipus games into Agreegain Limited iGaming platform.

Betbazar, the industry’s leading B2B global iGaming marketplace, has facilitated another successful software partnership after announcing that Agreegain Limited has agreed to add to its platform the full suite of Platipus slots.

As the go-to destination for companies looking to acquire third-party casino, sportsbook solutions and data content, Betbazar continues to drive growth across the iGaming industry. Among its standout offerings, the innovative and visually striking slots from Platipus immediately captured the attention of Agreegain.

Keen to enhance its platform’s content offering and give its clients access to high-performing games, Agreegain chose to integrate the entire Platipus portfolio — more than 150 titles, including a number of player-favourite jackpots.

This integration means that Agreegain’s network of B2C partners will now have access to standout titles such as Lord of the Keys, Bacon’s Bank, and 7 & Fruits Rush, enriching their game libraries with engaging themes, fast gameplay and compelling features.

With Betbazar managing the logistics of the deal, all Platipus content will be fully integrated into the Agreegain platform and will be available to its partners. The agreement also ensures ongoing technical support and seamless delivery of new releases moving forward.

This partnership further cements Betbazar’s reputation as a key facilitator in the global iGaming space — connecting top-tier suppliers with ambitious platforms through its unique marketplace model.

Maria Afzaal, Senior Partner Manager at Agreegain Limited, said: “As a growing aggregator focused on delivering top-tier B2C solutions, Agreegain is constantly searching for standout content that helps our partners enhance their casino offerings.

Using a marketplace like BETBAZAR — where some of the industry’s most innovative providers are gathered in one place — makes this process incredibly efficient, and we’re very pleased to have discovered Platipus through their platform. We’re excited to bring Platipus’s dynamic portfolio to our clients and are confident these games will resonate strongly with players.”

Stanislav Mykhailov, CCO at Platipus, said: “For an independent software provider like Platipus, having a reliable way to connect with the right partners is essential – and being part of BETBAZAR’s B2B worldwide iGaming marketplace makes that process incredibly smooth.

Thanks to their intelligent and streamlined platform that brings together content creators and aggregators, we were able to present our portfolio to Agreegain Limited – and we’re thrilled they found our content to be a great fit. With all Platipus games now integrated into their library, Agreegain can deliver even more value to their clients — and we’re looking forward to seeing our games reach new audiences through this collaboration.”

Vanna Kraljevic, Business Development Manager at BETBAZAR, said: “We’re really pleased to have facilitated the deal between Agreegain Limited and Platipus through our industry-leading B2B iGaming marketplace. We believe this new partnership will bring tremendous value to both parties and their wide networks.

The ease with which Agreegain Limited was able to explore our curated portfolio and identify the right content fit highlights the strength and efficiency of the BETBAZAR model — and with one seamless integration, the full suite of Platipus games is now live on their platform.”

 

About Agreegain Limited

Agreegain is a fast-growing B2B iGaming solutions provider that offers a comprehensive aggregation platform that connects casino operators with a vast portfolio of top-tier gaming content via a single API. With a focus on speed, scalability, and compliance, Agreegain delivers turnkey and white-label casino solutions, sportsbook integration, and advanced operational tools — including fraud prevention, reporting, and 24/7 technical support.


About Platipus

Platipus Ltd is an EU-based leading online game development studio producing cutting-edge HTML5 slots and table games that excite, thrill, and entertain players around the world. The company boasts a talented and dedicated team of developers, designers, and artists who work tirelessly to deliver top-quality games. Platipus’ expertise lies in developing visually stunning graphics, immersive gameplay, and exciting features that captivate players and enhance their gaming experience.

About Betbazar

Betbazar is a B2B worldwide iGaming marketplace which has set a new sales standard, sourcing specialist iGaming products and advising on their role within existing strategies to deliver growth to our partners. The company’s ambition is building a digital iGaming marketplace that connects creators with buyers to accelerate growth powered by best-in-class products. 

Website: https://betbazar.com
LinkedIn: https://www.linkedin.com/company/betbazar

The post BETBAZAR facilitates agreement to integrate Platipus slots with Agreegain Limited appeared first on European Gaming Industry News.

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Playson launches €10,000,000 Non-Stop Drops and Races 10KK promotion

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Award-winning slot studio reveals its biggest network promotion featuring new CashDays X-treme mechanic

 Playson, the accomplished digital entertainment supplier, has unveiled its latest Non-Stops Drops and Races instalment, offering a staggering €10,000,000 prize pool.

The exciting year-long campaign builds on the success of Non-Stop Drops and Races 6KK, which saw more than 500 operators take part alongside 10,000,000 unique users. Throughout its duration, almost 250,000 prizes were awarded.

Running from 1 July 2025 to 30 June 2026, Non-Stop Drops and Races 10KK will now offer prizes every two and a half minutes, representing a 60% increase from last year’s prize pool, with two concurrent promotions also running daily.

In an exciting development, the new 2025 CashDays X-treme tournament will take place at the end of every quarter offering prizes up to a lavish €35,000, perfectly complementing the Cash Days tournament tool, which challenges players during the first eight days of each month.

Non-Stop Drops will be powered by the Cash Blast tool and award random prizes for the entire duration of the promotion, offering new captivating ways for players to engage with their favourite Playson titles.

An increased €2,000,000 prize pool will also be available across the studio’s thrilling Short Races, with the mini tournaments running from the 9th until the end of each month.

The meticulous developments to Playson’s 2025/26 promotion underline the importance of network campaigns to the studio’s ongoing strategy, delivering maximum value for its operator partners and players worldwide.

Tamas Kusztos, CCO at Playson, said: “Playson’s cutting edge promotional mechanics are proven to enhance player retention and drive universal appeal with non-stop action and boundless opportunities to win big.

“Non-Stop Drops & Races 10KK is primed to go several steps further than its predecessor, delivering more engagement, more retention and more excitement.”

The post Playson launches €10,000,000 Non-Stop Drops and Races 10KK promotion appeared first on European Gaming Industry News.

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