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Galaxy Gaming, Inc. (GLXZ)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.9800-0.0095 (-0.96%)
As of 1:22PM EDT. Market open.
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Neutralpattern detected
Previous Close0.9895
Open0.9700
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.9559 - 0.9800
52 Week Range0.6500 - 2.2500
Volume51,208
Avg. Volume31,667
Market Cap17.97M
Beta (5Y Monthly)1.12
PE Ratio (TTM)N/A
EPS (TTM)-0.0370
Earnings DateAug 19, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.75
  • GlobeNewswire

    Galaxy Gaming Closes Acquisition of Progressive Games Partners

    Deal Increases Galaxy’s Footprint in iGamingLAS VEGAS, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTCQB: GLXZ) (“Galaxy” or the “Company”), a developer and distributor of casino table games and enhanced systems, announced today that it has closed its previously announced acquisition of all of the equity interests in Progressive Games Partners LLC (“PGP”).  PGP owns the exclusive worldwide online rights to a comprehensive suite of proprietary casino table games, including Galaxy’s. PGP has been in the iGaming business since 2003 and has strong relationships with many of the leading iGaming providers. The transaction is strategically advantageous to Galaxy as it increases the Company’s exposure to the iGaming market, which is forecasted to see significant growth, especially in the US.  The transaction is also attractive financially as it eliminates the distribution fee that Galaxy pays to PGP on Galaxy-owned games and gives Galaxy additional iGaming licensing revenue from several popular titles owned by other licensors. The Company expects the transaction to be immediately accretive to earnings per share.Executive Comments“The world has changed dramatically since we signed the purchase agreement for this deal back in February,” stated Todd Cravens, Galaxy’s President and CEO. “Our casino clients in the physical world have been very hard-hit by the COVID-19 crisis and are generally struggling to get back to business levels they enjoyed before the lockdowns.  By contrast, the iGaming business was a significant beneficiary of the shutdown, with US revenues in the second quarter of 2020 increasing 250% over the prior year.  We believe that more US states will consider legalizing iGaming as a way to prevent the tax revenue losses that occur when brick-and-mortar casinos are closed.  We look forward to working more closely with our iGaming operators as we bring our existing library and our pipeline of new products online.”“Galaxy has a great opportunity with the acquisition of PGP,” said Chris Reynolds, who has been at the helm as PGP’s CEO since its inception. “Many of the titles that are in the PGP portfolio originated in the US land-based world.  Since US iGaming operators will want to offer to their online patrons many of the same games that are popular in the physical world, there should be good adoption of the PGP content in the US.  I look forward to working with Todd and the rest of the Galaxy team in serving the rapidly growing US iGaming market while maintaining the strong relationships we have in the UK and Europe.”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 GamingHeadquartered 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 Progressive Games Partners LLC, 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: Robyn Brewington (702) 936-5216 Investors:   Harry Hagerty (702) 938-1740

  • GlobeNewswire

    Galaxy Gaming Reports Q2 2020 Financial Results

    LAS VEGAS, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems for land-based casinos and iGaming, announced today its financial results for the fiscal quarter ended June 30, 2020. Financial HighlightsQ2 2020 vs. Q2 2019 * Revenue decreased 88% to $664K * Adjusted EBITDA decreased 159% to $(1,420)K1 * Net loss of $(2,207)K vs. net income of $1,055KH1 2020 vs. H1 2019 * Revenue decreased 52% to $5,158K * Adjusted EBITDA decreased 98% to $80K2 * Net loss of $(2,090)K vs. net income of $1,516KBalance Sheet Changes (vs. December 31, 2019) * Cash decreased 1% to $9,641K * Total debt (gross) was unchanged at $48,019K * Stockholders’ deficit increased to $(29,351)KExecutive Comments“The second quarter of 2020 was painful for everyone in the global casino industry,” said Todd Cravens, Galaxy’s President and CEO. “We earned virtually no revenue from our land-based clients, almost all of whom were shut for the entire quarter.  We used the time to develop new games and technologies that we hope to introduce later this year.  Our online gaming business continued to perform well, and we expect to close our acquisition of Progressive Games Partners LLC later in August, which will allow us to work more closely with our iGaming clients.”“Our liquidity remained stable in Q2 as we drew down on our revolver and accessed funds through the PPP program,” stated Harry Hagerty, Galaxy’s CFO.  “We have been current in payments of interest and principal on our debt obligations even as our revenues were significantly diminished.  However, going forward, we expect that the second-quarter results will negatively affect our ability to meet one or more of the financial covenants in our bank debt, and we are pleased that Nevada State Bank has agreed to forbear enforcing certain of the covenants through the first quarter of 2021.” _______________1 Adjusted EBITDA in Q2 2020 excludes approximately $480K of legal and other expenses related to our litigation with Triangulum Partners LLC. 2 Adjusted EBITDA in H1 2020 excludes approximately $653K of legal and other expenses related to our litigation with Triangulum Partners LLC.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 GamingHeadquartered 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: Robyn Brewington (702) 936-5216 Investors:Harry Hagerty (702) 938-1740

  • GlobeNewswire

    Galaxy Gaming expands its European footprint with the World’s #1 Side Bets in France and Switzerland

    LAS VEGAS, Aug. 12, 2020 (GLOBE NEWSWIRE) -- 21+3, the World’s 1 side bet, has received regulatory approval in France, with the 21+3 additional ‘Top 3’ side bet also going live in Switzerland for the first time. Galaxy’s Gavin Wright and distribution partner LGS have quickly placed a number of the blackjack side bets in French and Swiss casinos.  “Both France and Switzerland are key markets for 21+3 and Galaxy Gaming.  While we have great strength in the UK, our goals are to service customers throughout Europe with great products for their players,” stated Galaxy’s Gavin Wright.“Growth in Europe will continue to be a focus for Galaxy Gaming.  France and Switzerland are just the start.  We hope to bring our products to casinos throughout the continent this year and beyond.  Our titles continue to do very well in the European iGaming segment, and we feel our products will be received well in land-based casinos as well,” stated Galaxy Gaming CEO Todd Cravens.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 casinos, riverboats, cruise ships, and online casinos worldwide. Through its iGaming partner, Progressive Games Partners LLC, 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, Instagram, LinkedIn, YouTube, and Twitter (@GalaxyGamingLV).Contact Investors: Harry Hagerty (702) 938-1740, hhagerty@GalaxyGaming.com