Latest News
Galaxy Gaming Reports Q3 2019 Financial Results
Reading Time: 2 minutes
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.
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

Latest News
Week 8/2025 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Tom Horn Gaming is thrilled to announce the launch of its latest Hold & Win slot game, Majestic Coins. This high-volatility 3×3 slot takes players on a winning quest, where shimmering coins, respins, and grand jackpots lead to massive wins. Set against a sleek black 3×3 reel grid with 5 win lines, Majestic Coins offers classic slot excitement with a modern twist.
Candy Links Bonanza 2 is the newest slot game from Stakelogic, inviting you to wander through magical realms filled with delightfully sweet treats. Amidst this charming backdrop, two 5×5 grids are placed side by side. The grid on the right is where all the gameplay unfolds, while the other grid collects coins. Forming lines of coins wins their values and activates the powerful Wheels of Fortune!
Step into a world where opulence meets nature in Zillion’s latest release, Royal Crown Fruits – a dazzling slot experience filled with vibrant fruit symbols, golden crowns, and thrilling rewards. With 20 winning lines, the game blends classic charm with modern excitement, offering players a chance to strike royal-sized wins.
Big Time Gaming is back with its most exhilarating instalment yet. Max Megaways III invites players to gear up and embark on a high-stakes Arctic mission that’s shaken, stirred, and loaded with epic rewards. In this 6-reel Megaways™ slot, players get up to 117,649 ways to win, and that’s just the start of the action. Armed with MegaDozer™ mechanics, Free Spins, and a treasure trove of bonuses, Max Megaways III is set to deliver edge-of-your-seat excitement like never before.
Play’n GO delves into the mysteries of ancient Egypt with the release of Myth of Dead, a visually stunning slot that combines engaging gameplay with the allure of legendary treasures. This 5-reel, 3-row game with 10 paylines offers a captivating journey into a world ruled by powerful deities and golden riches.
Belatra Games, the specialist online slots developer, has released Blast the Bass, a brand new title that immerses players into an adventure on the open seas. Set out in the deep ocean, Blast the Bass brings together engaging mechanics, big bonus features and fun graphics that entertain players on every spin. A salty old skipper acts as the Wild symbol and will substitute for all regular symbols to combine for winning lines.
Push Gaming has launched Mad Blast, a volatile, multiplier-focused, pay-anywhere game that builds crazy robots along with wild winnings. Set in the workshop of the Mad Tinkerer, quirky, colourful bomb symbols populate the reels, with eight or more required to award a win. Winning symbols are removed from play, and the cascade of replacement icons allows subsequent wins to be formed.
Relax Gaming has revealed Glyph of Gods, an Egyptian-themed slot where hieroglyphs hold the key to wins. Bringing a fresh take on the much-loved Egyptian theme, this game features Glyph Positions which allow for Wild, Bonus, and Glyph symbols to land in dedicated spots, opening up multiple opportunities for big winning moments.
Blueprint Gaming returns in style with Big Catch Even Bigger Bass, offering a plethora of modifiers to maximise players’ winning potential. After years of success with its iconic Fishin’ Frenzy™ series, Blueprint has moved from the ocean to a picturesque lake where a bait box of aquatic symbols take their place on the 6×4, 4,096 win matrix, nestled in a mountainous landscape.
Amusnet announces the exclusive launch of 20 Wild Goals at Betano in Romania from February 20th to March 24th, 2025. 20 Wild Goals is a 5-reel video slot set in a stadium environment, offering 20 paylines. The Wild symbol, represented by a ball, expands to cover the entire reel, boosting the potential for higher wins. The tumbling reel feature adds a layer of excitement by removing winning combinations and increasing multipliers with each subsequent spin.
The post Week 8/2025 slot games releases appeared first on European Gaming Industry News.
Latest News
Official Game Titles for 2025 IESF WEC25
International Esports Federation (IESF) has confirmed the official game titles for the 2025 IESF Season. The WEC25 will feature five of the most popular Esports titles:
- Counter-Strike 2,
- Dota 2,
- eFootball™ series,
- Mobile Legends: Bang Bang, and
- PUBG MOBILE.
2025 marks the third consecutive year that IESF has maintained the same lineup, reflecting the consistency and popularity of these titles in the World of Esports.
With 136 member federations organizing National Qualifiers, the road to the 2025 IESF Season is set to be bigger and more competitive than ever. Around the world, national tournaments are already underway, as each federation seeks to crown their nation’s champions who will go on to compete at the highest level.
Igor Nedeski, Esports Manager at IESF, said: “We are proud to continue our collaboration with leading game publishers to ensure the highest quality of competition for the 2025 season. The excitement among athletes is already incredible as they prepare to represent their nations on the grand stage. This year, we anticipate an even higher level of competition as teams and players push the boundaries of Esports.”
The 17th edition of the IESF Season will not only highlight the competitive excellence of esports athletes but also reinforce IESF’s commitment to inclusivity, diversity, and fair play within the Esports ecosystem.
Mind Sports South Africa (MSSA) has participated in every IESF World Championship since the inception of the World Championships in 2009.
Players registered with MSSA may qualify for National Team Trials (NTT) in MSSA events that have been held for one Calendar Year before the National Team Trials are held.
Events still to be held are:
- 22 February 2025 – 6th WESTERN CAPE Online Championships
- 8 March 2025 – 6th GAUTENG Online Championships
- 15 March 2025 – National Team Trials for 17th IESF World Championships
The post Official Game Titles for 2025 IESF WEC25 appeared first on European Gaming Industry News.
Latest News
Amusnet Deepens Collaboration with Betano for Exclusive Launch of 20 Wild Goals
Amusnet announces the exclusive launch of 20 Wild Goals at Betano in Romania from February 20th to March 24th, 2025. This collaboration further strengthens the company’s long-term partnership with the operator and reflects Amusnet’s focus on providing localized gaming solutions to meet the needs of the Romanian market.
“With a clear focus on delivering localized, high-quality content, we continue to foster our mutually beneficial collaboration with Betano. By providing tailored gaming experiences, we ensure both Amusnet and our partners drive growth, meet player expectations, and strengthen our collective presence in the region,” said Andreea Popa, Commercial Manager at Amusnet Romania.
20 Wild Goals is a 5-reel video slot set in a stadium environment, offering 20 paylines. The Wild symbol, represented by a ball, expands to cover the entire reel, boosting the potential for higher wins. The tumbling reel feature adds a layer of excitement by removing winning combinations and increasing multipliers with each subsequent spin. The game presents a dynamic and engaging experience designed to appeal to players seeking thrilling gameplay.
Features
Expanding Wild
During the base game, the Wild symbol expands on the whole reel and substitutes for other symbols, increasing the winning potential.
Tumbling Reels with Increasing Multiplier
Winning symbols disappear, making way for the symbols above them while increasing the multiplier with each consecutive win. If new winning combinations appear on the screen after filling the empty positions, they are multiplied by Multiplier, which starts from x2 and increases by 1 with every consequent Tumbling Reels Feature.
Jackpot Cards
The four-level mystery jackpot bonus game Jackpot Cards is also available, just like in the rest of Amusnet’s Online Casino portfolio.
The post Amusnet Deepens Collaboration with Betano for Exclusive Launch of 20 Wild Goals appeared first on European Gaming Industry News.
-
Latest News2 months ago
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
-
Latest News2 months ago
Abios powers upcoming gaming media platform Apollo with in-play statistics for League of Legends
-
Latest News2 months ago
Government support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024
-
Latest News3 months ago
The Pokémon Company Announces Open-For-All Pokémon UNITE Winter Tournament India 2025 With $10,000 Prize Pool, Skyesports To Serve As Esports Partner
-
Latest News3 months ago
EXCITEMENT GROWS AS 2024 PUBG MOBILE GLOBAL CHAMPIONSHIP GRAND FINALS NEAR
-
Latest News2 months ago
Kambi Group plc repurchase of shares during 18 December – 23 December 2024
-
Latest News2 months ago
India Levels Up: Emerging as a Global Gaming Powerhouse in 2024
-
Latest News2 months ago
Imagine Live Partners with King.rs
You must be logged in to post a comment Login