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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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S8UL Makes History at the Esports Awards 2025, Becomes First Indian Organisation to Win Two Major Honours

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S8UL wins Esports Content Group of the Year for the fourth time, Animesh “8Bit Thug” Agarwal crowned Esports Personality of the Year at the Oscars of gaming

S8UL Esports, India’s trailblazing force in gaming and creator-led entertainment, delivered a landmark moment at the Esports Awards 2025 in Las Vegas. The organisation celebrated a remarkable double win, lifting the Esports Content Group of the Year award for the fourth time, while Co-Founder Animesh “8Bit Thug” Agarwal was honoured as Esports Personality of the Year. The night became even more memorable as S8UL emerged as the first and only Indian organisation to win two separate titles at the Esports Awards, a milestone shaped by the team’s heart, dedication, and years of passion.

Often called the Oscars of the gaming world, the Esports Awards shine a spotlight on the finest global talent every year. For India, S8UL’s double win comes during a remarkable season in which the organisation also competed at the Esports World Cup, standing alongside some of the world’s most premier teams and creators while representing the country on one of esports’ biggest international stages. Winning Content Group of the Year again, in a category stacked with giants like T1, Sentinels, Team Liquid, and Fnatic, reinforces S8UL’s global standing and the strength of its storytelling, creativity, and community-first approach.

This year also marked a proud moment for Indian creators who featured among some of the world’s most competitive categories. Payal Dhare, widely known as Payal Gaming, was nominated for Streamer of the Year. She stood alongside some of the biggest names in global streaming including Kai Cenat, Marc “Caedrel” Lamont, Morgan “AngryGinge” Burtwistle, Felix “xQc” Lengyel, Nicholas “Jynxzi” Stewart, and Nick “Lacy” Fosco. The award was ultimately won by Darren “IShowSpeed” Watkins Jr, yet Payal’s presence in a lineup of this scale reflects the growing global footprint of Indian creators and the doors they continue to open. Snax also continued to represent India’s creator and competitive community across the year, contributing to S8UL’s global presence including its run at the Esports World Cup, where the organisation competed in some of the most challenging lineups internationally.

Raj Varma carried the Indian flag into the Esports Content Creator of the Year category, nominated alongside Marc “Caedrel” Lamont, Cody “Clix” Conrod, Alexandre “gAuLeS” Borba, Tarik “Tarik” Celik, Jack “NiceWigg” Martin, and Mark “Ohnepixel” Zimmermann. The award went to Nicholas “Jynxzi” Stewart, yet Raj’s nomination underscored the rise of Indian storytellers who are now being recognised at the highest level of global esports entertainment.

Reflecting on the landmark night, S8UL’s founders shared their thoughts.

Animesh “8Bit Thug” Agarwal, Co-Founder, S8UL, said, “This year’s esports awards nominations were already huge for us. Back to back nominations told us we were doing something right. But winning Content Group of the year, for the fourth time running, its just wild. Lets take a moment to celebrate the huge moment that it is!  And ‘Esports Personality of the year’, that really is a shared victory! The nights our fans have spent watching us, cheering us and all the votes they cast, together we’ve made this happen. Honestly, if you are a wellwisher of Indian Gaming, its the time to rejoice. Seeing Indian Gaming here, its big. I always knew this can happen, but its surreal when it did. Going back home with so much more determination! “

Naman ‘Mortal’ Mathur, Co-Founder, S8UL, said, “This is a proud moment not just for S8UL, but for India. Year after year, our goal has been to show the world that Indian gaming creators can stand shoulder to shoulder with the best. These wins inspire us to push even harder and continue representing India globally.”

Lokesh “Goldy” Jain, Co-Founder, S8UL, said, “S8UL has always been about building a legacy rooted in creativity, collaboration, and community. Winning two awards tonight is a testament to the relentless efforts of our team and the unwavering love of our fans. We will continue raising the bar for Indian esports and creators worldwide.”

As S8UL celebrates a historic night, the moment stands as another reminder of how far Indian esports has come and where it is headed. With creators, teams, and leadership continuously raising industry benchmarks, S8UL’s journey continues to inspire millions across the country, proving yet again that world-class esports culture can grow from the heart of India’s gaming community.

The post S8UL Makes History at the Esports Awards 2025, Becomes First Indian Organisation to Win Two Major Honours appeared first on European Gaming Industry News.

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Red Bull Solo Legends National Final Set to Make Esports History at the Royal Opera House, Mumbai

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Red Bull Solo Legends is stepping into a new chapter as the tournament’s national finals arrive at the breathtaking Royal Opera House, Mumbai on 2nd December.

For the first time ever, the century-old cultural landmark will host an esports event, bringing competitive gaming into a space that has witnessed some of India’s most celebrated artistic performances.

This is a powerful moment for Indian esports. What began in community rooms, cyber cafés, and online lobbies now enters one of the country’s most majestic stages, celebrating the growth of gaming as a modern cultural force.

The journey to the finals has been equally ambitious. Red Bull Solo Legends is a multi-phase tournament, featuring both online and on-ground stages, uniting tens of thousands of solo BGMI players from every corner of the country. From grassroots talent to seasoned pros, competitors battled through a pure solo queue format, proving their instincts, consistency, and clutch ability. Each round brought them closer to the opportunity of facing India’s top BGMI professionals at the finals. The champion of Red Bull Solo Legends will walk away with the title of India’s strongest solo BGMI player along with an exclusive international Red Bull Racing experience.

With 64 of the country’s finest solo BGMI contenders taking the stage, 32 qualified finalists, 24 top-tier pros, and 8 Chaos Agents, the Royal Opera House will echo with a new kind of intensity.They will compete across 5 matches to determine the first-ever Red Bull Solo Legends champion. As spectators walk in, they’ll be part of a one-of-a-kind atmosphere where strategy, instinct, and pure solo skill unfold inside one of Mumbai’s most exquisite architectural treasures.

Red Bull Solo Legends will feature some of India’s prominent BGMI athletes including Jonathan Amaral (Jonathan Gaming), Tanishk Singh (Admino), Rudra B (Spower), Sahil Jakhar (Omega), Raghuraj Singh (Slug), Mohammed Owais Lakhani (Owais), Sohail Shaikh (Hector), and Paridhi Gupta (Noob Pari) and many more. These players, known for their exceptional skills, will compete against each other, bringing their unique strategies and gameplay styles to the forefront. Esports thrives on pressure, audience energy, and unforgettable moments. The Royal Opera House, known for its grandeur and legacy, offers a stage worthy of the stakes. The contrast is striking in the best way, with ornate balconies and vintage chandeliers watching over India’s sharpest digital athletes as they fight for the title of the country’s strongest solo BGMI player.

Built between 1909 and 1915 and inaugurated by King George V, the Royal Opera House is India’s only surviving opera house, restored lovingly after decades of closure. From theatre to classical music to film screenings, its stage has embraced every form of performance. On 2nd December, it will embrace competitive gaming for the very first time, welcoming India’s esports community into its history.

Red Bull Solo Legends has been created to celebrate individual excellence in BGMI. Every rotation, every fight, every decision rests on the player alone. Hosting the finals in a venue that represents mastery, legacy, and performance adds a rare emotional depth to the competition, turning every clutch into a moment that will be remembered long after the final circle closes.

Tickets will be exclusively live on Swiggy Scenes 21st November onward.

Matches will also be broadcast live on the Red Bull Game On YouTube channel for fans from across the country: youtube.com/@RedBullGameOn

The post Red Bull Solo Legends National Final Set to Make Esports History at the Royal Opera House, Mumbai appeared first on European Gaming Industry News.

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eGaming Integrity Shortlisted for Tech Supporter of the Year Award

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eGaming Integrity has been shortlisted for the Tech Supporter of the Year award at the Digital Isle Tech Awards 2025, which recognise organisations making a significant contribution to the Island’s technology sector through collaboration, capability-building, and practical support.

eGaming Integrity provides compliance and internal audit services that help digital businesses strengthen their regulatory readiness and operational resilience. Its integrity-as-a-service model combines monitoring tools, risk assessments, and regulatory guidance to support both new and established operators. The firm also contributes to broader industry development by delivering workshops, best-practice resources, and advisory support aimed at helping early-stage and growing companies navigate compliance and security requirements.

Companies working with eGaming Integrity report improvements in governance, data protection, and audit preparedness, along with increased confidence when launching products or expanding into new markets. The firm’s partnerships with accelerators, incubators, and industry bodies have helped foster a more open and collaborative environment across the Island’s tech community.

Emma Shilling, Director of eGaming Integrity, commented: “We’re delighted to be shortlisted. Our focus has always been to support licence-holders and technology businesses in meeting the Island’s high standards. This recognition reflects the hard work of our team, the value of expert led technical solutions and the value of clear, practical guidance for organisations across the sector.”

Public voting for the awards is now open and closes at 2pm on 27 November 2025.

Members of the public can vote by selecting a finalist in each category at: digitalisleofman.com/tech-awards/

Winners will be announced at the Digital Isle 2025 event on 27 November.

 

The post eGaming Integrity Shortlisted for Tech Supporter of the Year Award appeared first on European Gaming Industry News.

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