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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)KÂ
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.
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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 Q2 2019 Financial Results

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Esports Charts becomes the official viewership analytics partner of the StarLadder StarSeries Season 19
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Esports Charts, the leading esports viewership analytics provider, is pleased to announce a new partnership with StarLadder, a veteran tournament organizer.
The companies will partner for the new season of StarLadder StarSeries Season 19 — the legendary tournament series returns to the professional Counter-Strike scene after a six-year break.
As the official analytics partner of the StarLadder StarSeries Season 19, Esports Charts will provide comprehensive, real-time audience data and insights throughout the event for a deeper understanding of the tournament’s global reach.
“We’re proud to provide real-time viewership analytics for StarLadder StarSeries Season 19,” said Artyom Odintsov, co-founder and CEO of Esports Charts. “We welcome the return of StarLadder to the Tier‑1 Counter-Strike stage, adding healthy competition among tournament organizers. This season marks an exciting new chapter for a historic series, and our data will help capture audience engagement throughout the event, giving organizers, teams, and sponsors valuable insights into global viewership trends.”
StarLadder has been a driving force in global esports for almost 25 years, since hosting its first tournaments in 2001. The company has organized some of the industry’s most iconic events, including the StarLadder Berlin Major and The DOTA 2 Chongqing Major in 2019. Later this year, StarLadder will also host the Budapest Major 2025 — where it was earlier announced that Esports Charts will serve as the official viewership analytics partner.
The StarSeries tournament series, a key part of StarLadder’s brand, has helped launch the careers of numerous Counter-Strike stars. The last StarSeries event, StarSeries & i-League CS:GO Season 8, took place in October 2019 in Turkey. After a six-year hiatus, the series is finally set to make its return this fall with a brand-new season in Europe.
“StarLadder’s decision to partner with Esports Charts once again reflects our confidence in their leadership in esports viewership analytics. Their methodology sets the benchmark for accuracy and transparency — from tracking impressions with a true 30-second viewing window to providing insights that go far beyond raw numbers. Together, we are committed to giving brands and fans a deeper statistics of competitive Counter-Strike, powered by metrics that truly matter,” shared Viacheslav Shcherbakov, Head of Sales & Partnerships at StarLadder.
The StarLadder StarSeries Season 19 will run from September 18 to 21 in Budapest, Hungary, featuring a $500,000 prize pool. Eight teams will battle for the title: Natus Vincere, B8 Esports, Passion UA, 9INE, PARIVISION, OG, and Gentle Mates.
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The post Esports Charts becomes the official viewership analytics partner of the StarLadder StarSeries Season 19 appeared first on European Gaming Industry News.
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Study confirms €191 million economic impact of ICE and iGB Affiliate 2025
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The 2025 editions of ICE and iGB Affiliate generated €191 million in economic impact for Barcelona and Catalonia as well as supporting an estimated 3,100 part time jobs, according to a study conducted by Equimore.
The two world leading business to business events which attracted attendees from 186 countries generating 121,000 overnight stays benefitted a wide range of local businesses including hotels, restaurants, transport services, venues and event production with the average daily spend of non-local attendees calculated at €449.
An input-output model was employed to estimate the total direct, indirect, and induced economic impacts resulting from Barcelona hosting ICE and iGB Affiliate 2025.
The analysis also evaluated the employment effects capturing the jobs created and supported as a result of hosting the exhibitions. Direct Impacts consists of expenditures associated with organising, exhibiting, and attending within the Barcelona – Catalonia economy. The indirect or secondary impacts corresponds to the knock-on effect of the event on the Barcelona -Catalonia economy including activity generated by the suppliers and service providers that benefited from the direct impact of the event. Induced impacts which corresponds to the activity generated by the consumption in the Barcelona-Catalonia economy of the wages received by people who worked directly or indirectly on the 2025 events.
Clarion Gaming Managing Director Stuart Hunter said: “After many successful years in London, we made the decision to relocate to Barcelona with a clear ambition: to evolve, to grow, and to offer our global community an even greater platform for connection and innovation.
“The industry’s experience in Barcelona was shaped by several key factors that made ICE and iGB Affiliate 2025 truly exceptional. World-class exhibitors showcased an outstanding cross-section of global gaming innovation. The Clarion Gaming team, collaborating seamlessly with partners at Fira GranVia, demonstrated why they’re regarded as the best in the business.
“The results speak for themselves — a record attendance, exceptional exhibitor engagement, and an impressive €191 million in economic impact for the Barcelona and Catalonia economy boosted by a large international business audience. We can’t wait to see everyone again in January 2026.”
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The post Study confirms €191 million economic impact of ICE and iGB Affiliate 2025 appeared first on European Gaming Industry News.
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GGPoker to Broadcast WSOP Online 2025 Final Tables Live, Featuring GGPoker.tv Broadcast Debut of Poker Legend Phil Hellmuth
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Join Jeff Gross and his legendary co-hosts on September 23 and September 30
GGPoker, the World’s Biggest Poker Room, today announced it will live stream the final table action of two of the most prestigious events from the ongoing WSOP Online 2025 tournament series. The broadcasts will be available on GGPoker.tv, the brand’s official YouTube channel, and will feature the debut of poker legend Phil Hellmuth as a live GGPoker.tv broadcast host.
The first broadcast, on September 23, will showcase the high-stakes drama from the final table of the $5,000 WSOP Online Main Event, arguably online poker’s most important annual tournament. This landmark event will be co-hosted by frequent GGPoker anchor Jeff Gross and the 17-time WSOP bracelet winner, Phil Hellmuth. Known for his “poker brat” persona and unparalleled tournament record, Hellmuth’s inclusion will provide viewers with an unprecedented look into the mind of one of poker’s greatest champions.
The action continues on September 30, with the final table of the $10,300 GGMillion$ High Rollers event. Joining Jeff Gross for this broadcast will be GGPoker Global Ambassador and fellow poker icon, Daniel Negreanu. Negreanu, with his engaging style and deep understanding of the game, will provide expert commentary and analysis, making this broadcast another must-watch for poker fans everywhere.
“We are incredibly excited to bring the WSOP Online 2025 action directly to our fans with these two live broadcasts,” said Paul Burke, Head of Public Relations at GGPoker. “Having Phil Hellmuth and Daniel Negreanu on air alongside Jeff Gross to break down the action will be a true treat. This will be more than just watching a final table; it’ll be a masterclass in poker strategy from two of the best to ever play the game.”
The post GGPoker to Broadcast WSOP Online 2025 Final Tables Live, Featuring GGPoker.tv Broadcast Debut of Poker Legend Phil Hellmuth appeared first on European Gaming Industry News.
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