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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
Latest News
A Year of Life-Changing Wins: The UAE Lottery Turns One
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The UAE Lottery, the country’s first and only regulated lottery, proudly marks its first anniversary this November, celebrating a year defined by life-changing wins and unforgettable moments for thousands of participants across the UAE, alongside exceptional business growth.
Over the past year, The UAE Lottery has become a major source of excitement and anticipation for players from all walks of life. To date, it has crowned five millionaires, awarded 233 winners of AED 100,000 through Lucky Day, Lucky Chance, and Scratch Card games, and celebrated a historic AED 100 million Grand Prize, one of the largest lottery payouts in the UAE and broader MENA region.
Altogether, over 100,000 players have claimed prizes valued at more than AED 147 million, underscoring the platform’s impact and widespread national participation.
Scott Burton, Commercial Gaming Director at The UAE Lottery, said: “Our first year proved just how exciting and rewarding The UAE Lottery can be, with unforgettable wins and incredible stories from players across the UAE. The trust, enthusiasm, and remarkable moments we’ve witnessed define the experience we’re proud to offer today.”
Throughout its inaugural year, The UAE Lottery expanded its portfolio to offer players more choices than ever before. The platform now features over 20 gaming experiences, including the flagship Lucky Day Draw, popular daily games such as Pick 3, Pick 4, and Color Prediction, along with a wide selection of scratch cards and E-instant games, some of which have entry points starting from just AED 1. Scratch cards alone have already awarded five top prizes of AED 1 million, offering players both joy and transformative opportunities.
As The UAE Lottery kicks off its second year, players can look forward to new game launches, enhanced digital features, and refreshed prize structures that bring added engagement and accessibility to every experience. These developments will build on the platform’s commitment to fairness, safety, and innovation while strengthening its role as a trusted source of entertainment across the UAE.
The post A Year of Life-Changing Wins: The UAE Lottery Turns One appeared first on European Gaming Industry News.
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S8UL Esports Secures iQOO as Title Sponsor for its Pokémon UNITE and MOBA Legends 5v5 Rosters
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S8UL Esports, a global name in esports and gaming content, has onboarded high-performance smartphone brand iQOO as the Title Sponsor for its Pokémon UNITE and MOBA Legends 5v5 rosters. With this strengthened alliance, iQOO deepens its commitment to supporting India’s top esports talent while S8UL further accelerates its multi-title expansion ahead of a landmark competitive season.
iQOO has supported the growth of Indian esports for several years, working closely with top teams and major tournaments. Its continued association with iQOO SOUL, one of India’s leading BGMI rosters, has contributed to the team’s strong performances, including its recent win at the Chennai Esports Global Championship 2025.
Extending this support to S8UL’s newly signed rosters, the brand will equip athletes with its powerful, gaming-optimized smartphones to enhance their training and tournament preparation. As part of the partnership, the iQOO logo will feature prominently on the front of the team jerseys, and both rosters will now compete under the names iQOO S8UL Pokémon UNITE and iQOO S8UL MOBA Legends 5v5.
“iQOO has been with S8UL for a long time, starting with our BGMI team, and their support has played an important role in our journey. Extending this partnership to our Pokémon UNITE and MOBA Legends 5v5 teams is a natural next step as we grow across more titles. Our focus at S8UL is to build strong, well-prepared rosters in every game we enter, and working with a partner like iQOO helps us give our players the tools they need to compete with confidence in India and internationally.,” said Animesh Agarwal, Co-founder and CEO of S8UL Esports.
S8UL’s Pokémon UNITE team, led by captain Manmohan Singh (AllMight) and comprising Rahul Sharad Lavhate (Kyurem), Deep Patel (Snowyy), Adnan Badshah (Badshahh), and Rudra Narayan Nayak (ReX), is widely regarded as the top roster in the South Asia region. The team has claimed three regional championships in the last three years and has consistently represented India on the international stage at the Pokémon UNITE World Championship.
The organization’s newly signed MOBA Legends 5v5 roster arrives with a wealth of experience and an impressive track record across India’s community-led tournaments. The team includes in-game leader Mohammad Saad (Apex), Abhijeet Katkar (Abhi), Mehta Jay (J), Chirag Singh (Radium), Debasish Sana (Anti) and Anush N (Fear). Apex notably competed at the MLBB Mid Season Cup 2024 at the Esports World Cup, which featured a staggering USD 3 million (approx. INR 26.7 crore) prize pool.
The enhanced partnership with iQOO comes at a time when S8UL is rapidly scaling its multi-title presence. Earlier this year, S8UL became the first and only Indian organisation selected for the prestigious Club Partner Program of the Esports World Cup 2025, placing it among the world’s elite esports organisations.
On the content front, the organization recently won the ‘Esports Content Group of the Year’ for the fourth time in a row, while Co-Founder Animesh “8Bit Thug” Agarwal earned the title of ‘Esports Personality of the Year’ at the Esports Awards 2025, underlining the organisation’s unmatched influence across both esports and creator ecosystems.
By bringing two high-potential rosters under the iQOO S8UL banner, the organisation reinforces its drive to build winning line-ups across every title it enters. The newly branded iQOO S8UL Pokémon UNITE roster will be the first to step into action, competing at the Pokémon UNITE Asia Champions League 2026 – India from November 29.
The post S8UL Esports Secures iQOO as Title Sponsor for its Pokémon UNITE and MOBA Legends 5v5 Rosters appeared first on European Gaming Industry News.
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Deluxe Blackjack: Refined strategy meets the celebrated classic
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SA Gaming has launched Deluxe Blackjack!
Deluxe Blackjack is a classic casino game that comes with a streamlined betting flow where players can make pre-decisions well before their turn. Decisions like double down after split are also available in the game, giving more control to players.
Special payout combos are supported for the Pair side bet in Deluxe Blackjack. The payout varies depending on the Pair received. If both the rank and suit of the player’s initial hand match exactly to the dealer’s first card, the payout can be as high as 50x!
Deluxe Blackjack has a completely new design from back to front, and is definitely creating an enhanced experience for players!
Enjoy refined gaming experience from Deluxe Blackjack now:
Should you have any inquiry regarding the new product, please feel free to shoot us an email at [email protected]. Your feedback is highly appreciated and will help us to improve our ability to serve you better in the future.
The post Deluxe Blackjack: Refined strategy meets the celebrated classic appeared first on European Gaming Industry News.
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