Connect with us
SIS

Latest News

Galaxy Gaming Reports Q3 2019 Financial Results

Vlad Poptamas

Published

on

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.

 

Advertisement
Kasynos.Online

Gambling in the USA

Gaming Americas Weekly Roundup – September 21-27

Niji Narayan

Published

on

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! It was again an eventful week in the USA, despite the still-active virus attack.

Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Celer Network’s mobile eSports platform CelerX has become the first mobile esports platform on blockchain to surpass $3 million in player winnings in one month. Since the global release of the BUST-A-MOVE Real Money Tournament in July 2020, CelerX has seen new record-highs in the number of games played each week and users making an average of $20 per day – with top users making $1000+ per day. So far, mid-August has proven to be the biggest gaming day of 2020 and complements CelerX’s $3 million worth of player winnings across the mobile esports platform and game portfolio in one month.

Construction of Fusion Arena, the $50 million esports arena in Philadelphia, has been put on hold because of the COVID-19 pandemic. The 3500-seat facility was expected to open in 2021 and was commissioned by Comcast Spectacor, owner of the Philadelphia Fusion of the Overwatch League.

The Legislature of the city of Buenos Aires has addressed a proposed law on the prevention of gambling addiction and the regulation of online gaming on September 24. The bill was proposed by the Lottery of the City of Buenos Aires (LOTBA).

The Carson Nugget casino in Nevada is going to replace and upgrade its old casino management system with Table Trac’s CasinoTrac management system.

Carousel Group has announced that its online sportsbook, SportsBetting.com, has gone live in Colorado. SportsBetting.com took its first wager from Colorado late last Wednesday, a bet on the Dodgers, which resulted in a winning ticket for the customer. The next full day of betting saw a customer win $7,000 on a six-team MLB parlay. SportsBetting.com has rolled out a number of promotions to kick off the launch.

New Partnerships

Online bookmaker Betway has entered into a partnership with North American esports organisation beastcoast. As per this new one-year deal, the bookmaker will back beastcoast’s Peruvian Dota 2 team. Betway will obtain rights to jersey branding, as well as player access, allowing the bookmaker to “bring its fans closer to the action.”

Simplicity Esports and Gaming Company has partnered with Newzoo, the world’s leading provider of games and esports analytics. The partnership will enable the two companies to exchange esports market data and insights. Also, Simplicity will have access to Newzoo’s data analytics tools.

Awards

For the third consecutive year, Mohegan Gaming & Entertainment’s (MGE) flagship property Mohegan Sun was voted “Best Casino Hotel” in USA Today’s 10Best Readers’ Choice Awards. Nominees for the awards were selected by a panel of experts, including editors from both USA Today and 10Best.com, as well as relevant expert contributors. This year’s list of nominees featured some of the most well-known casinos and resorts in the US.

Continue Reading

Latest News

Isle of Man-based iGaming licensing specialist launches consultancy business

George Miller

Published

on

Isle of Man-based iGaming licensing specialist launches consultancy business
Tina Rawlinson FCCA, Director and Founding Principal of Clarity Consulting
Reading Time: < 1 minute

 

One of the Isle of Man’s leading specialists in iGaming licensing, Tina Rawlinson FCCA, has launched her own advisory business – Clarity Consulting.

The business enables the former Cavendish Trust Company director to focus on helping clients licence, strategize, deliver and be compliant by using her 30 years’ international business experience and specialist iGaming industry knowledge. Tina is an Accountant, a UK Gambling Commission Personal Management Licence holder, and a member of the International Association of Gaming Advisors. Clarity Consulting also allows her to explore a limited number of executive and non-executive director appointments suited to her wealth of corporate and iGaming business experience.

Continue Reading

Latest News

Upgraded tech: Plug in with All-in for easy iGaming localization

George Miller

Published

on

Upgraded tech: Plug in with All-in for easy iGaming localization
Reading Time: 3 minutes

 

All-in Global is making the iGaming localization process easier than ever by providing a range of effortless ways for companies to choose from in order to plug in with the All-in translation system.

The language service provider dedicated to the gaming industry has been proudly delivering high-quality content for more than a decade now, and it keeps reinventing itself to keep up with a dynamic world of technological innovations. Recently, they presented their updated technology by way of an entertaining, informative, and interactive video where 4 rib-tickling characters explain the up-to-date tech features that are turning the iGaming content localization into a super easy process where All-in bake the entire pie for their clients.

CMS & API integration
To manually upload localized texts is a thing of the past. Clients can now simply get their back-end connected to All-in Global’s translation system and thus turn their content and localization management into a much easier process. They can connect with almost any CMS system, and even get a tailored API integration.
Time to wave goodbye to migraine-triggering formatting and files sharing!

Multilingual WordPress plugin
Additionally, translating a website can be done in a few steps by simply installing and connecting the multilingual WordPress plugin with the All-in server, then selecting the pages that you need translated and, voilà! – a world-class localization squad quickly enters the frame to make the translation process as smooth as possible.

Drag & Drop Folder
There is also the possibility to conveniently transfer files using the Drag & Drop folder in order to reduce the number of exchanged e-mails and increase communication efficiency between clients and Project Managers.

Phone Interpretation
If are you closing online deals these days, the phone interpretation service is something you don’t want to miss out on. Many of today’s business meetings occur online, and All-in Global have the perfect 24/7 solution for those scheduled online/telephone calls where you need an interpreter so that everyone attending can understand everything correctly. They will send you a unique dial-in code, and before you know it, an interpreter familiar with your sector’s terms and topics will be available on the line.

Now that you know their new tech features, we recommend their segmented interactive video where you meet these 4 fabulous characters. They will explain humorously and in detail how to plug-in with All-in.

 

Each character is meant to represent a different segment of All-in Global’s clientele:

Eric Smartman: recommended for busy iGaming and esports entrepreneurs who swear a lot.
Morgan Freewoman: recommended for iGaming creatives who love to own the narrative.
Charlotta Johanson: recommended for Karaoke lovers who got lost in translation.
Daniel Attenthourough: recommended for iGaming developers who fancy the lifestyle of digital nomads.

If you are looking for a reliable partner to safely localize your content into any language that will be relevant and engaging to your global audiences, contact All-in Global. They are constantly building up their expertise and resources to stay the #1 Language Service Provider for the iGaming sector.

Get in touch at [email protected]

If you are interested in finding more about All-in Global, watch the EGC2020 panels moderated by our CEO Tiago Aprigio and our SEO manager Vasco Albuquerque.

 

LATEST INDUSTRY INNOVATION AND HOW THE INDUSTRY HAS ADAPTED TO CURRENT TIMES (INTERACTIVE) (SPONSORED BY ALTENAR) – 15:40 – 17:00 CEST – 6th of October

Confirmed speakers:

  • Stanislav Silin (CEO at Altenar)
  • Dennis Tsalikis (CEO at Fantasy Sports Interactive)
  • Lyubomira Petrova (Chief Marketing Officer at UltraPlay)
  • Norbert Mathies (Managing Director at Spinmatic Entertainment)
  • Glen Bullen (CCO at DAOGroup)

Moderator: Vasco Albuquerque (SEO Manager at All-in Global)

OPERATION: OUTLOOK 2021 (INTERACTIVE) (SPONSORED BY ALTENAR) – 15:55 – 18:00 CEST – 7th of October

Confirmed speakers:

  • Dinos Stranomitis (Chief Operating Officer at Altenar)
  • Robert Dowling (Chief Commercial Officer at Singular)
  • Evan Davis (Managing Director, Sports Betting and Gaming for SeventySix Capital Sports Advisory)
  • Ron Segev (Founding Partner of Segev LLP)

Moderator: Tiago Aprigio (CEO at All-in Global)

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.

Kasynos.Online