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Galaxy Gaming Reports Q3 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 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

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Sofascore Player of the Season Award Show Premieres on CBS
This summer in Zadar, sporting legends and top broadcasters came together for the first-ever Sofascore Player of the Season Award Show, filmed during the Sunset Sports Festival. Now, the show has reached millions as it premiered on CBS, bringing together football stories and data-supported awards.
The show celebrated Europe’s top performers from the Premier League, LaLiga, Serie A, Bundesliga, Ligue 1, and many more leagues across the world, all chosen just through Sofascore’s objective performance ratings. No votes, no popularity contests. Mohamed Salah topped the Premier League with a 7.78 rating, Raphinha led LaLiga with 7.80, Mattia Zaccagni claimed Serie A’s best with 7.34, Joshua Kimmich was Bundesliga’s highest rated player with 7.91, and Achraf Hakimi shined in Ligue 1 with 7.76. Beyond this, the awards also celebrated the highest-rated player in the UEFA Champions League, the top leagues in women’s football, and many more standout performers from around the globe.
Hosted by Kate Scott and Peter Schmeichel, and directed by Emmy Award-winner Pete Radovich, the event featured exclusive insights from football greats and top analysts including Jamie Carragher, Micah Richards, and Alessandro Del Piero. Raphinha shared his pride as both LaLiga and Champions League’s top-rated player, while Luka Modrić made history by receiving Sofascore’s first-ever Founders’ Legend Award. In the audience, big names like Dimitar Berbatov, Stipe Miočić, and Šime Vrsaljko added extra prestige to the celebration.
The Player of the Season celebration extended beyond the TV broadcast, with massive billboards in London, Liverpool, Barcelona, Munich, Rome, Frankfurt, Lyon, Metz, and other European cities, showcasing Sofascore’s award winners. From Raphinha and Alexia Putellas in Barcelona to Mohamed Salah in Liverpool and Joshua Kimmich in Munich, fans across Europe could see the season’s best right in their own cities.
The Sofascore Player of the Season Award is built on objective data, not public votes. Every goal, pass, tackle or miss contributes to a rating that reflects what truly happened on the pitch. That’s why, for players and all football fans around the globe, Sofascore’s Player of the Season trophy is the only award that counts.
The post Sofascore Player of the Season Award Show Premieres on CBS appeared first on European Gaming Industry News.
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Evoplay starts a big fiesta in spicy new title Don Juan Peppers
Evoplay, the award-winning game development studio, has released Don Juan Peppers, a fiery new slot that blends bold bonus features with festive flair.
Set in a sun-soaked Mexican town bursting with colour, rhythm and celebration, the game invites players to join the charismatic Don Juan himself for a lively fiesta across 20 fixed paylines.
The action centres around two types of bonus symbols. Landing three Chili Bonus icons on reels two, three and four triggers seven Free Spins. During Free Spins, each appearance of a Chili Bonus symbol awards an Instant Chili Prize corresponding to the value shown above its reel.
Meanwhile, landing six or more Bonus symbols activates the bonus game. In this mode, all Bonus and Chili icons lock in place and reset the spin counter to three. Chilis in this round boost the value of up to four Bonus symbols before transforming and continuing the chase for bigger wins.
The bonus game also gives players a shot at four fixed jackpots: MINI, MEGA, SUPER, and the GRAND prize of 3,000x the bet. For players who want to skip straight to the fiesta, a Bonus Buy feature offers direct access to either the Bonus Game or Free Spins.
Don Juan Peppers is the latest release in Evoplay’s growing portfolio of standout slots, blending engaging gameplay with vibrant storytelling and proven features.
Ivan Kravchuk, CEO at Evoplay, said: “Don Juan Peppers is a celebration of bold design and dynamic mechanics. By blending familiar bonus features with a distinctive aesthetic and rhythmic theme, we’ve created a slot that feels both familiar and fresh.
“It’s a fantastic showcase of our approach to delivering high-performing content with real personality.”
The post Evoplay starts a big fiesta in spicy new title Don Juan Peppers appeared first on European Gaming Industry News.
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ZITRO DIGITAL TO SHOWCASE NEW DIGITAL GAMING LINE-UP AT SBC SUMMIT LISBOA 2025
Zitro Digital, the online division of global gaming leader Zitro, announces its participation in SBC Summit Lisboa 2025, taking place from 16–18 September at the Feira Internacional de Lisboa, Portugal.
As a key player in the digital gaming space, Zitro Digital will present its latest online slot and video bingo titles portfolio, reflecting its continued investment in innovation, omnichannel strategy, and game performance at scale. Visitors to booth B530 will have the opportunity to explore the company’s newest content, including the debut of ‘Dreams’, the first title in the Fairyland Quest series — a digital adaptation of one of Zitro’s most successful land-based games.
Also featured will be ‘Elysium’ from the Legendary Sword series, ‘Autumn’, the latest addition to the popular Fu Pots collection, and ‘Monk’, the newest release in the Bashiba Link series. The company will also offer an exclusive first look at ‘Tomahawk’ — an upcoming standout title from the all-new Cash Totems series — which will be on display at SBC Lisboa ahead of its global release.
Alongside its expanding games portfolio, Zitro Digital will spotlight GameGate, the company’s new player engagement tool designed to guide users through its growing universe of content. GameGate enhances retention and gameplay by creating personalized journeys across multiple titles, completely transforming how players experience Zitro Digital’s slot offerings.
“Our goal at Zitro Digital is simple: to create engaging games that not only engage players but also drive measurable results for our partners,” said José Javier Martí, COO at Zitro Digital. “We combine the proven appeal of our land-based hits with new digital innovation to offer products that perform consistently across regulated markets. Events like SBC Summit Lisboa are essential for us to connect directly with operators, understand their evolving needs, and demonstrate how our portfolio can support their growth and stand out in competitive markets”.
The post ZITRO DIGITAL TO SHOWCASE NEW DIGITAL GAMING LINE-UP AT SBC SUMMIT LISBOA 2025 appeared first on European Gaming Industry News.
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