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Galaxy Gaming Provides Preliminary Q2 2019 Financial Results
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Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems, is announcing today preliminary financial results for the quarter ended June 30, 2019.
Q2 2019 Preliminary Financial Results
The Company expects to file actual results for the quarter ended June 30, 2019 on Form 10-Q on August 14, 2019. On a preliminary estimated basis, the Company expects to report revenue for Q2 2019 of approximately $5.4 million and adjusted EBITDA* of $2.4 million. These figures compare to $4.5 million in revenue and $1.7 million in adjusted EBITDA* for the comparable period in 2018. Further, the Company expects to report that, at June 30, 2019, cash was $8.2 million and long-term debt (gross) was $48.6 million, including $39.1 million of subordinated debt issued in connection with the redemption transaction in May 2019.  The Q2 2019 anticipated results presented in this release are based on preliminary financial data and are subject to change until the quarter-end financial reporting process is complete.
Forward-Looking Statements
Certain statements in this release, including all statements regarding plans, prospects and expectations concerning our business and financial results 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. Forward-looking statements are based on currently available information, and Galaxy disclaims any obligation to update or revise any forward-looking statements made in this release, except as required by law.
* Non-GAAP Financial Information
Adjusted EBITDA includes adjustments to net income to exclude interest, taxes, depreciation, amortization, share based compensation, loss on extinguishment of debt, foreign currency exchange gains (losses), change in estimated fair value of warrant liability, change in estimated fair value of interest rate swap liability and other non-recurring expenses and non-cash charges. Adjusted EBITDA is not a measure of performance defined in accordance with U.S. GAAP, however, adjusted EBITDA is used by management to evaluate our operating performance. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating our performance. Galaxy’s reconciliations of adjusted EBITDA to U.S. GAAP net income in our historical financial statements are indicative of the reconciliation that will be prepared upon completion of our Q2 2019 financial results and included in our quarterly report for Q2 2019.
About Galaxy Gaming
Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops, assembles 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 | |
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 Provides Preliminary Q2 2019 Financial Results
Latest News
Steer Studios Joins Make-A-Wish® International’s Infinite Wishes Initiative
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– Steer Studios joins Bandai Namco, Square Enix, and 2K in supporting Make-A-Wish International’s mission to unite the global games industry for good. –
Make-A-Wish® International, the world’s leading wish-granting organization, has today announced that Riyadh-based Steer Studios, part of Savvy Games Group, has joined the organization’s Infinite Wishes Initiative, offering valuable support to help make a difference.
The funds were raised through Steer Studios first mobile title, Grunt Rush. By collecting stars during gameplay, the player community unlocked the donation, helping to grant life-changing wishes to children living with critical illnesses.
Launched in August 2025, Infinite Wishes is a global programme built to unite the video games industry. It was created in response to a growing number of gaming-related wishes from children around the world.
Steer Studios joins a growing list of partners and advisors including Bandai Namco, Square Enix, and 2K, helping shape how the games industry can make a tangible, positive impact for children who need it most.
In 2024, the Make-A-Wish International network granted more than 16,000 wishes for children living with critical illnesses.
The post Steer Studios Joins Make-A-Wish® International’s Infinite Wishes Initiative appeared first on European Gaming Industry News.
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New GoldenRace game, RaceDay, allows players to simultaneously place bets in several races
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GoldenRace, leading provider of award-winning Virtual Sports and betting solutions, is always reinventing its products so operators can increase their winnings and players can obtain a better betting experience.
Set to transform the way your players engage with Virtual Sports, GoldenRace’s brand-new multi-race product for Retail and Mobile, RaceDay, allows them to bet on up to six races of your choice, simultaneously, offering higher odds and increased betting volume.
Operators can select their favourites from GoldenRace’s top-quality races: Horses (in different formats with 6, 8, 10 or 12 competitors) and Greyhounds – two of GoldenRace’s more successful products- Motorbikes, Karts and Trotting. They decide which ones and how many, giving players the power to bet across all those races at once.
RaceDay highlights
- More bets: Players can now bet on up to six races concurrently, maximising their opportunities and increasing betting volume on your platform.
- New RaceDay market: With combination bets across different competitions in one view. This innovative market helps boost the odds and leads to more significant wins for players.
- Stronger player growth: Higher payouts and an exhilarating experience attract more players, driving sustained growth.
- Increased appeal: RaceDay delivers premium user experience with live video, real-time scores, upcoming events and a unique, customisable design.
- Anywhere reliability: Thanks to low-bandwidth optimisation, RaceDay offers seamless performance and reliability on both Mobile and Retail platforms, ensuring players can “Race it all!” wherever they are.
With real-time video, live scores, upcoming events, customisable design and low-bandwidth optimisation, RaceDay blends pure adrenaline with the best user experience to unlock higher odds, bigger wins and more bets on worldwide operators platforms.
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The post New GoldenRace game, RaceDay, allows players to simultaneously place bets in several races appeared first on European Gaming Industry News.
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QTech Games adds more creative content from BEON
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QTech Games, the leading game aggregator across all emerging markets, has continued to maintain the momentum in its premium pipeline, as evidenced by its latest deal with BEON, an emerging force in the slots space, whose first raft of games is crash games-focussed.
Integrating a progressive portfolio from one of the most productive and innovative developers in the sector adds more muscle to QTech Games’ proprietary platform, which is leading the way across growth markets like LatAm and Africa. In a progressive production line that will span different slots genres, BEON is also committed to launching games tailored to specific partner requests, while simultaneously growing its portfolio with a new wave of titles in development.
As a result BEON is building a reputation for creating high-quality, immersive games with standout features that set them apart in any igaming domain, thanks to a smooth performance running off agile mechanics which are dedicated to gameplay precision and optimal retention. Its first five games to be released comprise Skydot, Fury Flight, Redy, Nomad and Orizon, while BEON’s unique Crash Game Generator tool allows operator partners to launch customised content inside 24 hours.
This collaboration delivers a targeted range of localized content, enabling QTech Games to continue to meet the varied preferences of players across emerging markets, while supporting both companies’ ambitions for global growth.
Philip Doftvik, QTech Games’ CEO, said: “BEON’s initial rollout of eye-catching crash games is premised on clever mechanics, easily intelligible gameplay, high payouts and colourful graphics, which are breaking up an often-copycat environment. This kind of content is well-suited to LatAm and African markets, which directly tracks our ongoing expansion throughout these territories. These games are robust, scalable, and future-ready – so, we look forward to seeing what’s next. ”
Saba Chkheidze, Managing Partner at BEON, added: “Partnering with QTech Games constitutes the perfect opportunity for us to bolster our product distribution across emerging markets and deliver our fantastic crash games to more and more top-tier operators.
“It’s a collaboration which marks a step-change in BEON’s growth strategy across untapped markets like Latin America and Africa, where we hope our games will connect with many new players. Aside from crash games, our roadmap is packed with fresh concepts and slots titles that aim to combine engaging gameplay with solid technical performance, ensuring that our partners and players always have something new to look forward to.”
The post QTech Games adds more creative content from BEON appeared first on European Gaming Industry News.
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