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Galaxy Gaming Reports Q3 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 nine months ended September 30, 2019.
Financial Highlights
Q3 2019 vs. Q3 2018
- Revenue increased 12.5% to $5,372K
- Adjusted EBITDA increased 23.5% to $2,217K1
- Net income per share (diluted) increased to $0.03 from $0.02
Nine Months 2019 vs. Nine Months 2018
- Revenue increased 17.9% to $16,118K
- Adjusted EBITDA increased 32.9% to $6,654K2
- Net income per share (diluted) increased to $0.07 from $0.02
Balance Sheet Changes (vs. December 31, 2018)
- Cash increased 35.9% to $8,577K
- Total debt (gross) increased 372.4% to $48,192K due to the May 2019 stock redemption
- Stockholders’ deficit was $(28,379)K vs. stockholders’ equity of $7,457K due to the May 2019 stock redemption
Executive Comments
“We are pleased to continue delivering double-digit growth in both revenue and Adjusted EBITDA,” said Todd Cravens, Galaxy’s President and CEO. “The new licenses we have received and are pursuing should give us the opportunity to offer more of our products in underserved markets. However, we do not expect to realize meaningful revenue from the new license opportunities until 2020.”
“The third quarter showed our ability to continue to execute,” stated Harry Hagerty, Galaxy’s CFO. “We paid down $370K in debt and still added to the cash balance. Most importantly, just after quarter’s end we were able to sign an amendment to our credit agreement with Nevada State Bank that restructured the leverage covenants to allow us to carry the debt incurred in the redemption transaction. The new covenants will become effective for the December 31, 2019 quarter. For the third quarter of 2019, we were solidly in compliance with the Free Cash Flow and Senior Leverage covenants and our non-compliance with the Total Leverage covenant was waived as a result of the amendment entered into in May 2019.”
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.
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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 Q3 2019 Financial Results
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Peter & Sons Expands Its Danish Presence Through Partnership with Spillehallen
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Award-winning game studio Peter & Sons has expanded its reach in Denmark through a new partnership with Spillehallen, one of the country’s most trusted and innovative gaming brands.
Spillehallen is a 100% Danish-owned company with over 45 years of experience in the national gaming industry. Known for its craftsmanship and visionary development team, Spillehallen has successfully transitioned from the world of physical slot machines to the online space, bringing its rich legacy to Spillehallen.dk. The company’s goal has always been to recreate the authentic feel and functionality of traditional Danish slots while enhancing them with modern design and technology.
Through this collaboration, Spillehallen players will gain access to Peter & Sons’ expanding portfolio of video slots, celebrated for their handcrafted art, cinematic sound design, and imaginative mechanics. Titles such as Barbarossa, Voodoo Hex, and Wild One reflect the studio’s signature approach — blending storytelling, bold aesthetics, and engaging gameplay to create unforgettable experiences.
Denmark stands as one of Europe’s most mature and well-regulated iGaming markets, making it a natural fit for Peter & Sons’ continued growth strategy. The partnership with Spillehallen underscores the studio’s mission to deliver creative, story-rich, and premium-quality gaming experiences to players in regulated markets worldwide.
Yann Bautista, Commercial Director & Founder at Peter & Sons, said: “We’re thrilled to partner with Spillehallen — a brand that shares our passion for quality, innovation, and entertainment. Their deep roots in Danish gaming and their modern approach to digital experiences make them the perfect partner for our continued expansion in Denmark.”
Jacob Frostholm, Casino Manager at Spillehallen added: “Peter & Sons’ games stand out for their artistic style and creative gameplay. We’re excited to bring their unique worlds to our players and continue building on our tradition of offering the best and most entertaining gaming experiences in Denmark.”
This partnership marks another key milestone for Peter & Sons as it continues its expansion across Europe following recent launches in markets such as the UK, Italy, and the Netherlands.
The post Peter & Sons Expands Its Danish Presence Through Partnership with Spillehallen appeared first on European Gaming Industry News.
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MyEmpire Reborn: New Look, New Empires, New Features
MyEmpire, one of the leading brands within the MioMedia affiliate program, proudly unveils its grand transformation. The empire has been reborn — with a stunning new look, an expanded collection of games, and thrilling new features set to redefine the gaming experience.
The redesigned MyEmpire brand unveils a fresh and immersive environment inspired by great civilizations of the past. The new interface offers smoother navigation, enhanced visuals, and a layout that reflects the brand’s evolution and the spirit of the empire. It’s cleaner, faster, and full of life — giving players the feeling of truly stepping into a renewed realm of majesty.
The updated design extends across the entire game world, bringing richer landscapes, detailed architecture, and enhanced character art that adds elegance and depth, drawing players further into play.
Along with the visual transformation, MyEmpire is expanding its portfolio with new games. Each title offers a unique experience while staying true to the empire’s spirit of strategy, adventure, and discovery. Together, they create a broader and more dynamic world for players to explore.
Beyond new games, MyEmpire is expanding with the launch of a dedicated shop — a new destination where players can purchase exclusive items or exchange their in-game bonuses for them. It’s a fresh way to turn progress into rewards and make every victory even more satisfying.
Soon, players will also enjoy new gamification features — SpinRally, Wheel of Fortune, and WonderPot. These additions will introduce even more thrills and rewards, giving players the chance to test their luck, win prizes, and uncover new surprises within the empire. Each feature is designed to enhance engagement and add a fresh layer of fun to the play.
MioMedia Affiliates continue to stand at the forefront of iGaming innovation, bringing together top-performing brands and world-class affiliate partnerships. As MyEmpire enters a new era with its refreshed look and features, MioMedia Affiliates celebrates the brand’s dedication to excellence, creativity, and pursuit of entertainment that both inspires and rewards.
For more information and guidance, contact the team: https://www.miomedia.com/contact-us
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iGaming 2026 starts now: be the first to get Slotegrator’s iGaming trends report
Slotegrator, a leading iGaming software provider and content aggregator, has published a report forecasting the iGaming trends of 2026. Developed in collaboration with over 50 experts from international companies, the report highlights how technology, regulation, ESG and transparency, and evolving player expectations will reshape the iGaming landscape in the coming year.
The report brings together insights from operators, regulators, affiliates, and marketing leaders across Europe, Latin America, Africa, and Asia. It covers key topics – from upcoming regulatory changes and AI-driven hyper-personalization to new compliance standards, marketing transformations, and the rise of community-based gaming ecosystems.
Readers will learn what to expect from:
- Regulatory developments in the industry’s most attractive markets.
- Advances in AI, cybersecurity, biometric KYC, and deepfake detection.
- New marketing models built on emotional intelligence and data ethics.
- The role of Web3, stablecoins, and gamified well-being.
- The growing influence of ESG on the iGaming sector.
The report features practical insights from leading leading companies, recognized industry leaders and award winners, including SiGMA Group, Clarion Gaming, DEVILS, Endorphina, Amigo Gaming, Aviatrix, ZingBrain AI, BGaming, NGM Game, Peter& Sons, CasinoRIX, ICS-digital, top media like iGamingNews, Casino Guru, GamblingTalk, and others, alongside perspectives from top game studios and regional experts.
“The report brings together the key takeaways from our business analytical research and the voices of industry experts who observe market dynamics every single day. Their perspectives give this report its depth and authenticity. At Slotegrator, we value partnership and collaboration above all — this is what allows us to capture the real pulse of the iGaming industry. This document gives companies a valuable head start as they prepare for next year’s shifts,” adds Svetlana Kirichenko, head of marketing at Slotegrator.
The report offers a comprehensive view of what’s next for iGaming — a must-read for anyone shaping the future of the industry. Be among the first to download The iGaming Trends of 2026 from Slotegrator by following this link.
ABOUT THE COMPANY
Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.
The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.
The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.
Slotegrator also provides consulting services in gambling license acquisition and business incorporation.
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