Welcome to our dedicated page for Galaxy Gaming news (Ticker: GLXZ), a resource for investors and traders seeking the latest updates and insights on Galaxy Gaming stock.
Galaxy Gaming (GLXZ) provides investors and gaming industry professionals with centralized access to official corporate communications and market developments. This resource aggregates all material announcements including quarterly earnings disclosures, product launch details, and strategic partnership updates.
Visitors gain immediate visibility into the company's operational milestones through verified press releases and regulatory filings. Key coverage areas include financial performance reports, new game licensing agreements, and technology platform enhancements across land-based and digital casino markets.
The curated news archive enables efficient tracking of Galaxy Gaming's position in the evolving iGaming sector. Users can monitor management's strategic decisions through original source documents while staying informed about industry-specific regulatory changes impacting operations.
Bookmark this page for streamlined access to GLXZ's latest developments, with all content vetted for accuracy and updated as new information becomes publicly available through official channels.
Evolution AB's subsidiary has agreed to acquire Galaxy Gaming, Inc. (OTC:GLXZ) for approximately $85 million in cash. The deal values Galaxy Gaming at $3.20 per share, a 124% premium to its closing price on July 17, 2024. This acquisition aligns with Evolution's strategy to be the world's top casino game provider and strengthens its presence in the US market.
Galaxy Gaming, a leading developer of casino table games and technology solutions, is expected to generate $29.0 - $30.0 million in Net Revenue and $12.0 - $13.0 million in Adjusted EBITDA for fiscal year 2024. Evolution plans to operate Galaxy Gaming as a separate, independent business unit, retaining its management and employees.
The transaction is subject to Galaxy Gaming stockholder approval and regulatory approvals, with closing expected in mid-2025. This merger aims to combine Galaxy Gaming's land-based business with Evolution's global reach and online gaming leadership, potentially benefiting all stakeholders.
Galaxy Gaming (OTC: GLXZ) announced the appointment of Steve Kopjo as the new Chief Financial Officer (CFO), effective May 28, 2024. Kopjo, who has over 15 years of experience in the gaming sector, previously held senior finance roles at SHLF Entertainment, Wynn Resorts, Play AGS, and Everi Holdings. His extensive background includes technical accounting, investor relations, corporate finance, and mergers & acquisitions. At Play AGS, Kopjo contributed to the company’s successful IPO in 2018. At Everi Holdings, he managed debt restructuring and played key roles in mergers and acquisitions. Kopjo will replace Harry Hagerty, who will transition to a Strategic Advisor role. Galaxy Gaming President and CEO, Matt Reback, expressed confidence in Kopjo’s ability to drive the company’s growth and maintain its industry leadership.
Galaxy Gaming, Inc. (GLXZ) reported strong financial results for Q1 2024, with record revenue growth in both net and gross figures. The company's net income and EBITDA also saw significant increases compared to the same period last year. Despite lower perpetual license sales in Q1 2024, recurring license revenue remained the primary source of income for Galaxy Gaming. The company's Core sector experienced growth, driven by the distribution of EZ Baccarat® and the development of GOS 2.0. In the iGaming sector, revenues showed positive growth as well. Galaxy Gaming ended the quarter with $17.5 million in cash and remains focused on reducing net leverage through EBITDA growth and debt reduction.
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