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
GAMEPOP: The Culture of Play by Red Bull Media House – the first bookazine devoted entirely to video game culture
Introducing GAMEPOP: The Culture of Play, a new premium bookazine by Red Bull Media House and the world’s first magazine dedicated entirely to video-game culture. Designed as a rich, book-like publication, GAMEPOP rethinks what a magazine can be, capturing the creativity, personalities and ideas shaping modern gaming. GAMEPOP will debut at the Red Bull Tetris World Final in Dubai from December 11 to 13, followed by The Game Awards on December 11. The issue will then be available through select international retailers in the weeks that follow.
Across 180 pages, the issue brings together a wide range of cultural voices, including Japanese game designer Hideo Kojima, leading DC Comics creators, the Oscar-nominated team behind Grand Theft Hamlet and contributors with bylines in Vogue. The bookazine also spotlights standout Red Bull talent, including YouTube star Ludwig, Twitch creators Emiru and Caedrel, and Red Bull athlete MenaRD.
Rather than treating gaming as a standalone medium, GAMEPOP looks at how games influence, and are influenced by, wider culture. Through original photography, long-form features, illustration and visual essays, the publication explores how gaming connects to global trends in style, music, movement, storytelling and performance, and the creative communities driving that conversation.
The issue also includes interactive elements, including a bespoke Choose Your Own Adventure story created exclusively for the launch. A limited collector edition of 150 copies takes the concept a step further, featuring a fully functioning Tetris® device embedded directly into the cover – an industry first that turns the magazine into an object of play.
The post GAMEPOP: The Culture of Play by Red Bull Media House – the first bookazine devoted entirely to video game culture appeared first on Gaming and Gambling Industry Newsroom.
Latest News
Red Rake Gaming Expands Global Presence Through Partnership with QTech Games
Red Rake Gaming is pleased to announce a partnership with QTech Games, a leading aggregator and platform renowned for its strong presence in emerging markets on a global level. This collaboration brings Red Rake’s diverse and visually engaging portfolio of slots to QTech Games’ extensive aggregation platform, giving players across multiple continents access to high-quality, entertainment-focused casino content.
Founded in 2015, QTech Games is celebrating its 10-year anniversary in 2025. Over the past decade, the company has grown from rapid early-stage expansion to become a dominant force into emerging markets worldwide. With a global presence —including a new tech hub in Spain and offices in Malta—and Latin America, QTech Games has established itself as a fully-fledged international powerhouse.
Players can now enjoy titles from the Million Series, the Super Stars Series, and seasonal slots such as Halloween Wins and Christmas Wins, alongside new adventures including Azteca Gold Collect, Sherlock and the Stolen Gems, Beating Alcatraz, Big Size Fishin’, and Midas Wins.
QTech Games CEO, Philip Doftvik, said: “It’s another notch on our belt to have integrated more premium content from Red Rake. Theirs is a growing and constantly innovating library, delivering impressive support to the depth of our broad igaming-vertical spread.”
Nick Barr, Managing Director for Red Rake Gaming Malta, commented: “We are thrilled to partner with QTech Games and bring our portfolio of games to their growing network. Their leadership in emerging markets and innovative approach to aggregation allow us to reach new players and provide them with high-quality gaming experiences featuring unique features and visually engaging content. This collaboration marks an important step in strengthening our presence in key markets and further establishing Red Rake Gaming’s international presence.”
The post Red Rake Gaming Expands Global Presence Through Partnership with QTech Games appeared first on Gaming and Gambling Industry Newsroom.
Latest News
White Hat Studios launches with Betly mobile sportsbook and casino in West Virginia
Partnership sees leading branded content and popular Jackpot Royale integrated into Delaware North’s Betly online casino in the Mountain State
White Hat Studios, the “House of Brands” provider to the United States iGaming market, has partnered with Delaware North to launch on its Betly mobile sportsbook and casino in West Virginia.
The leading provider aims to build its online casino offering with the addition of the industry’s top-performing games.
Betly players in West Virginia will now have access to White Hat Studios’ acclaimed portfolio of premium branded titles, including Ted, The Goonies, and the award-winning 7s Fire Blitz series.
Also included in the rollout are the popular Jackpot Royale and Jackpot Royale Express progressive jackpot networks, currently live across more than 40 titles, and the first Betly-branded iCasino game – Betly Player’s Choice Blackjack.
Designed to elevate player engagement and boost retention, the addition of these promotional tools adds another layer of excitement to the Betly casino offering.
White Hat Studios has made significant strides in its U.S. growth trajectory since launching in 2021, consistently delivering high-performing content across multiple states. West Virginia remains a key market for the provider, following its remarkable success in all seven regulated U.S. iGaming states.
The collaboration represents another major step in White Hat Studios’ expansion across regulated U.S. states and reinforces its reputation as a go-to content partner for forward-thinking operators.
Daniel Lechner, SVP Sales and Marketing at White Hat Studios, said: “We’re thrilled to be partnering with Delaware North on the Betly online casino app in West Virginia.
“This partnership reflects our ongoing commitment to delivering top-tier content quickly and seamlessly to operators across the U.S. With our portfolio of fan-favorite branded titles and innovative features like Jackpot Royale, we’re confident we’ll make an immediate impact for Betly and its players.”
Bob Akeret, General Manager for Betly, added: “We’re excited to welcome White Hat Studios onto our Betly platform in West Virginia. Their reputation for delivering engaging, high-quality games, especially branded content, makes them an ideal partner as we continue to elevate our casino experience.”
The post White Hat Studios launches with Betly mobile sportsbook and casino in West Virginia appeared first on Gaming and Gambling Industry Newsroom.
-
Latest News3 months ago
Announcement: 25th September 2025
-
Latest News3 months ago
AI-Powered Gamification Arrives on Vegangster Platform via Smartico
-
Latest News1 month ago
JioBLAST Launches All Stars vs India powered by Campa Energy: A New Era of Creator-Driven Esports Entertainment
-
Latest News5 days agoSCCG Announces Strategic Partnership with Yellow Elephant Studios to Expand Multi-Channel Gaming Content Worldwide
-
Latest News3 months ago
The Countdown is On: Less Than 3 Months to Go Until The Games of The Future 2025 Kicks Off in Abu Dhabi
-
eSports1 month ago
CS:GO Betting Gains Momentum in the iGaming Sector
-
Latest News2 weeks ago
THE 2025 PUBG MOBILE GLOBAL CHAMPIONSHIP GROUP STAGE WRAPS UP WITH LAST CHANCE IN SIGHT
-
Latest News3 months ago
Leading The Charge! Euronics Group Joins LEC As Official Electronics Retail Partner


You must be logged in to post a comment Login