Galaxy Gaming Stock Price, News & Analysis

Galaxy Gaming, Inc. (OTCQB: GLXZ) announced the appointment of Meredith Brill to its Board of Directors, effective July 13, 2022. She is filling the seat left vacant by William Zender, who resigned on July 1, 2022. A private investor and intellectual property lawyer, Brill brings valuable experience relevant to Galaxy's business model. She has been a shareholder for several years and expresses enthusiasm about contributing to the company’s strategy and operations.

Mark Lipparelli, Chairman, highlighted her relevant expertise and familiarity with the company's challenges.

Galaxy Gaming (OTC:GLXZ) announced that industry expert Steph Nel has been appointed as Senior Vice President Worldwide Sales. Bringing over 20 years of gaming industry experience from various continents, Nel previously held the position of Managing Director of the Americas at TCSJOHNHUXLEY. His contributions led to significant acquisitions in the sector. Galaxy Gaming aims to enhance its table games expertise as it expands globally, with Nel expected to drive sales growth through his proven track record and industry knowledge.

Galaxy Gaming, Inc. (OTC: GLXZ) has announced the launch of Galaxy Gaming Digital, a new division aimed at expanding its online presence. This initiative includes a proprietary portfolio of popular table games and new in-house developed games, such as Galaxy Built titles. Over the past year, Galaxy's side bets accounted for more than one billion wagers globally, with their games dominating the online side bet market. The company plans to continue licensing their titles while also developing new games, enhancing their digital content portfolio significantly.

Galaxy Gaming, Inc. (OTC: GLXZ) has announced a partnership with Spirit Gaming, granting exclusive distribution rights in Germany, Austria, Luxembourg, and Belgium. Spirit Gaming will support the distribution of Galaxy Gaming’s Triton Casino Systems™ and celebrated table games including 21+3®, Perfect Pairs®, and Three Card Prime™. This collaboration aims to replicate Galaxy’s success in the UK and expand its market presence in Europe. Both companies express optimism regarding the partnership's potential to engage players with innovative gaming solutions.

Galaxy Gaming, Inc. (GLXZ) reported a strong start for Q1 2022, with revenues increasing by 38% to $5,919K compared to Q1 2021. Adjusted EBITDA rose 58% to $2,673K. Despite a net loss of $(14)K compared to $89K net income last year, cash reserves grew 7% to $17,242K. Long-term debt decreased slightly to $60,184K. The company raised its revenue guidance for the year to a range of $24.0 to $25.0 million, anticipating continued growth in their iGaming and land-based sectors.

Galaxy Gaming, Inc. (OTC: GLXZ) has launched the Triton Casino Systems™, an advanced table game progressive operating system, enhancing the features of its predecessor, Bonus Jackpot System. The new system offers flexible progressive configurations, an easy-to-use dealer pad, and robust reporting capabilities through an upgraded dashboard. Designed for security and data safety, Triton is scalable for evolving industry needs. This launch marks the beginning of further developments for Triton Casino Systems, with additional updates expected this year.

Galaxy Gaming, Inc. (GLXZ) announces the resignation of board member Bill Zender effective July 1, 2022. Zender has been a board member since 2015, contributing significantly to the company’s progress. Following his departure, Galaxy Gaming has entered into a Cooperation Agreement with stockholder Tice Brown to form a hiring committee aimed at selecting a qualified independent director to fill Zender's vacated seat. The agreement includes provisions limiting Brown’s ability to acquire significant stakes in the company, ensuring stability during this transition.

Galaxy Gaming, Inc. (OTC: GLXZ) will showcase new omnichannel content and its Triton Casino Management System at ICE London from April 12-14. The Triton system offers customizable progressive configurations, enhancing the gaming experience. Galaxy Gaming maintains its position as the leading licensor of casino table games for online platforms, with over 1.2 billion wagers placed on its games last year. A new agreement with John Wicks will expand the distribution of Perfect Pairs Blackjack and Baccarat to land-based casinos globally.

Galaxy Gaming, Inc. (OTCQB: GLXZ) reported significant financial growth for Q4 2021 and the fiscal year ended December 31, 2021. Revenues surged 73% to $5,670K in Q4, while full-year revenues increased 95% to $19,984K. Adjusted EBITDA skyrocketed 534% to $8,734K. The company ended the year with a cash balance of $16,059K, a 168% increase, despite long-term debt rising to $60,500K. For 2022, Galaxy forecasts revenue between $23.5 million and $25 million, assuming stable market conditions.