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Galaxy Gaming Provides Preliminary Q2 2019 Financial Results

Vlad Poptamas

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Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems, is announcing today preliminary financial results for the quarter ended June 30, 2019.

Q2 2019 Preliminary Financial Results

The Company expects to file actual results for the quarter ended June 30, 2019 on Form 10-Q on August 14, 2019.  On a preliminary estimated basis, the Company expects to report revenue for Q2 2019 of approximately $5.4 million and adjusted EBITDA* of $2.4 million.  These figures compare to $4.5 million in revenue and $1.7 million in adjusted EBITDA* for the comparable period in 2018.  Further, the Company expects to report that, at June 30, 2019, cash was $8.2 million and long-term debt (gross) was $48.6 million, including $39.1 million of subordinated debt issued in connection with the redemption transaction in May 2019.  The Q2 2019 anticipated results presented in this release are based on preliminary financial data and are subject to change until the quarter-end financial reporting process is complete.

Forward-Looking Statements

Certain statements in this release, including all statements regarding plans, prospects and expectations concerning our business and financial results 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. Forward-looking statements are based on currently available information, and Galaxy disclaims any obligation to update or revise any forward-looking statements made in this release, except as required by law.

* Non-GAAP Financial Information

Adjusted EBITDA includes adjustments to net income to exclude interest, taxes, depreciation, amortization, share based compensation, loss on extinguishment of debt, foreign currency exchange gains (losses), change in estimated fair value of warrant liability, change in estimated fair value of interest rate swap liability and other non-recurring expenses and non-cash charges. Adjusted EBITDA is not a measure of performance defined in accordance with U.S. GAAP, however, adjusted EBITDA is used by management to evaluate our operating performance. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating our performance. Galaxy’s reconciliations of adjusted EBITDA to U.S. GAAP net income in our historical financial statements are indicative of the reconciliation that will be prepared upon completion of our Q2 2019 financial results and included in our quarterly report for Q2 2019.

About Galaxy Gaming

Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops, assembles 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
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Conferences in Europe

Prague Gaming Summit 2020 speaker profile: Panagiotis Skyrlas (Head of Information Security & Compliance – Group DPO at Betano-Stoiximan) 

Alex Marginean

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The 4th edition of the Prague Gaming Summit will take place on 6 March 2020 and welcomes leading operators, service providers and gambling industry experts from all across Europe.

On the 6th of March at the Prague Gaming Summit, you have the opportunity to dive into several subjects, among which also the “Market Rundown: Ukraine, Poland and Greece”

As mentioned in earlier press releases, Prague Gaming Summit 2020 will bring a brand new format of speeches and more trending themes as it did in the early years.

Among the leading experts that will share their latest information, you have the opportunity to hear a fresh update about the new regulation of the Greek gambling industry from Panagiotis Skyrlas – Betano-Stoiximan

Panagiotis Skyrlas holds the position of Head of Information Security and Compliance at Betano-Stoiximan and has over 20 years of experience in the areas of Information Security, Risk Management, Compliance, and Data Privacy. He has completed numerous licensing projects and regulatory consultations in many European countries such as Greece, Romania, Cyprus, Portugal, Austria. He has served as DPO for over 10 years. Since 2018 he also holds the position of Vice President of the Institute of Information Systems Audit and Control Association.

Do not miss this unique opportunity to learn and networking with the leaders of the industry.

Order your Delegate Pass or VIP Package (Delegate Pass +Accommodation) now!

Here is a testimonial that has been left by Dr. Raffaela Zillner, one of the attending delegates of the 2019 edition of Prague Gaming Summit:

A conference of great quality. Not only excellent content is presented by top experts, but also the industry is moving closer together through many networking opportunities.

Dr. Raffaela Zillner, LL.M

Secretary General, Austrian Association for Betting and Gambling

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Conferences in Europe

Prague Gaming Summit 2020 speaker profile: Anastasios (Tassos) Panagiotaros (Sales Director at Golden Race – Virtual Sports & Betting Solutions)

Alex Marginean

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The 4th edition of the Prague Gaming Summit will take place on 6 March 2020 and welcomes leading operators, service providers and gambling industry experts from all across Europe.

On the 6th of March at the Prague Gaming Summit, you have the opportunity to dive into several subjects, among which also the “You Thought Millennials Are Hard To Please? Are You Ready For Generation Z?”

As mentioned in earlier press releases, Prague Gaming Summit 2020 will bring a brand new format of speeches and more trending themes as it did in the early years.

Among the leading experts that will share their latest information, you have the opportunity to hear more about Virtual Sports  from Tassos Panagiotaros – Golden Race – Virtual Sports & Betting Solutions

Tassos Panagiotaros holds the position of Sales Director at Golden Race, the leading Virtual Games provider.

Tassos started his career as a Software Engineer in the Telecoms industry. He soon switched to the Operations and Sales, having held, in the last 20 years, Senior and C-level positions in Public Listed companies, in Gaming, IT and Telecoms sectors, in different countries worldwide.

His academic background includes a BSc in Physics from the University of Patras, Greece, and an MBA from the University of Strathclyde, UK.

Do not miss this unique opportunity to learn and networking with the leaders of the industry.

Order your Delegate Pass or VIP Package (Delegate Pass +Accommodation) now!

Here is a testimonial that has been left by Donata Szabo, one of the attending delegates of the 2019 edition of Prague Gaming Summit:

Fantastic event: well-organized, interesting and keeping up with the latest trends; a leader in its field!

Donata Szabo

Junior Legal and Research Manager at GamblingCompliance

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Asia

China Vows to Work with Philippines to Combat Online Gaming Crimes

Niji Narayan

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China Vows to Work with Philippines to Combat Online Gaming Crimes
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China has vowed to work closely with the Philippines to combat cyber-criminal activities arising from Philippine Offshore Gaming Operations (POGOs), according to a statement issued by the Chinese Embassy in Manila.

“The Chinese side would like to continue to work closely with the Philippines to combat such crimes as telecommunications fraud, illegal online gambling, money-laundering, illegal employment, kidnapping, extortion, torture, murder and the like so as to effectively protect the legitimate rights and interests of nationals of the two countries, and to promote the China-Philippines friendship and cooperation,” said the statement.

The embassy released the statement after local media reported that the Ministry of Public Security of China has cancelled the passports of thousands of Chinese nationals working for the Philippine Offshore Gaming Operations (POGOs).

In order to crack down on cross-border telecom fraud crimes, the embassy said China’s Ministry of Public Security has obtained a list of Chinese nationals suspected of committing long-term telecom fraud crimes abroad, who are classified as the persons prohibited from exiting China according to the Exit and Entry Administration Law of China.

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