Galaxy Gaming Stock Price, News & Analysis

Galaxy Gaming, Inc. (OTCQB: GLXZ) reported financial results for Q4 2022 and full year 2022, highlighting a 5% increase in Q4 revenue to $5,940K and a 17% increase in full-year revenue to $23,442K. Adjusted EBITDA rose 30% to $3,153K in Q4 and 21% to $10,534K for the year. However, net income plummeted from $598K to $55K, leading to a full-year net loss of $(1,733K). The company expects revenue in the range of $26-$27 million for 2023. A significant payroll tax benefit of $575K impacted Q4 results.

Galaxy Gaming, Inc. (OTCQB: GLXZ) announced its virtual Shareholders Meeting scheduled for June 14, 2023, for those on record as of April 17, 2023. This complies with relevant regulations, ensuring shareholders are informed in a timely manner. The company, based in Las Vegas, specializes in developing and distributing casino games and technology solutions for both online and land-based casinos. While the meeting serves to address key shareholder matters, Galaxy cautions that forward-looking statements are subject to risks and uncertainties that could affect future performance.

Galaxy Gaming, Inc. (OTC: GLXZ) has announced its first international installation of the innovative 3 Dice Baccarat game at Aspers Casino, Stratford City. Launched at G2E 2022, this game substitutes cards with dice, enhancing the traditional Baccarat experience. Gavin Wright, Europe Sales Consultant at Galaxy Gaming, expressed enthusiasm for Aspers' commitment to this unique gaming concept, indicating plans for further installations internationally. Aspers' Head of Gaming, Steve Mosley, noted the increasing popularity of Baccarat in the UK and highlighted 3 Dice Baccarat as a successful addition that enhances guest participation and revenue.

Galaxy Gaming, Inc. (OTC: GLXZ), the leading independent developer of casino table games, will present their new table game operating system and innovative games at ICE London from February 7-9. This event marks the launch of Galaxy OS™, featuring groundbreaking capabilities for managing table games, including real-time progressive systems and digital tracking for games like Roulette and Craps. Galaxy Gaming also introduces three new built games: Roulette Up™, Split to Double Blackjack™, and Rising Phoenix Baccarat™. With over 2 billion wagers placed online last year, Galaxy aims to enhance gaming experiences globally.

Galaxy Gaming (GLXZ) reported its Q3 2022 financial results, featuring a 12% revenue increase to $5,907K compared to Q3 2021. However, adjusted EBITDA decreased 5% to $2,350K, and the company faced a net loss of $699K, a stark contrast to the net income of $874K in the prior year. For the first nine months of 2022, revenue rose 22% to $17,502K with adjusted EBITDA up 17% to $7,382K, but net loss for the period was $1,828K. The company improved its cash position by 20% to $19,275K, while long-term debt slightly decreased.

Galaxy Gaming, Inc. (OTC: GLXZ) will present its innovative offerings at the Global Gaming Expo (G2E) from October 11-13, showcasing new table game technology and content. Their debut of Galaxy OS™, a flexible table management system, enhances real-time progressive games. Featured products include popular table games like 21+3™ and new launches such as 3 Dice Baccarat™. Galaxy Gaming Digital™, which focuses on online growth, reported over one billion online wagers in the past year. The company aims to deliver premier gaming experiences across various platforms.