Galaxy Gaming Stock Price, News & Analysis

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.

Galaxy Gaming, Inc. (OTC: GLXZ) announced a new distribution agreement with John Wicks to expand the reach of Perfect Pairs Blackjack and Perfect Pairs Baccarat globally in land-based markets. This builds on their existing partnership to offer Perfect Pairs live gaming progressive jackpots in the UK. The addition of these popular side bets enhances Galaxy's Blackjack collection, which already includes top games like 21+3 and Lucky Ladies. The CEO expressed excitement over the partnership, highlighting the strong market for these games in North America, the UK, and Europe.

Galaxy Gaming, Inc. (OTCQB: GLXZ) will hold its virtual Shareholders Meeting on June 1, 2022, for shareholders of record as of April 6, 2022. A Notice of the meeting will be sent to eligible shareholders in compliance with relevant laws. The company, headquartered in Las Vegas, develops and distributes casino table games and systems, catering to both physical and online casinos worldwide. Galaxy Gaming is recognized for its innovative solutions and strong customer support in the gaming industry.

Galaxy Gaming (OTC:GLXZ) and Aruze Gaming America have launched Bonus Craps™, a popular craps side wager, on the innovative Roll To Win Craps™ game. This collaboration enhances player engagement by integrating Bonus Craps with a semi-autonomous craps game that features a 12-foot LED playing field for an immersive experience. Todd Cravens, Galaxy Gaming's President, emphasized their commitment to thrilling players, while Aruze's Rob Ziems noted the importance of offering new gaming experiences. This partnership aims to attract and retain players in the competitive casino market.

Galaxy Gaming, Inc. (OTCQB: GLXZ) announced the appointment of Cheryl Kondra to its Board of Directors, effective December 2, 2021. Ms. Kondra has over 20 years of experience in the gaming industry, having held significant positions at Pinnacle Entertainment and Caesars Entertainment. Her expertise in audit and compliance will bolster the company's governance. Chairman Mark Lipparelli expressed confidence in Kondra's ability to contribute meaningfully to Galaxy's operations.

Galaxy Gaming, Inc. (OTCQB: GLXZ) announced a Term Loan Credit Agreement with Fortress Credit Corp., securing $60 million to settle litigation with Triangulum Partners. Of the funds, $39.5 million settled the Triangulum claim, $11.1 million repaid previous loans, and $4.1 million covered fees. The loan carries interest rates between 6.50% and 7.75%, maturing on November 15, 2026, and includes quarterly amortization of $150,000. The transaction resolves litigation uncertainties, allowing Galaxy to focus on business growth and customer engagement.

Galaxy Gaming (GLXZ) reported strong financial results for Q3 2021, with revenue soaring to $5,282K from $1,798K in Q3 2020. Adjusted EBITDA rose significantly to $2,463K compared to $36K last year, highlighting impressive growth. The company achieved a net income of $874K, a turnaround from a net loss of $(1,298)K. In the first nine months of 2021, total revenue reached $14,314K, with an adjusted EBITDA of $6,303K. Cash reserves increased by 23.5% to $7,402K, while total debt decreased to $50,215K.

Galaxy Gaming, Inc. (OTCQB: GLXZ) announced a Settlement Agreement with former Chairman and CEO Robert Saucier and Triangulum Partners LLC on October 7, 2021. The agreement entails a payment of $39.1 million plus 2% interest from May 6, 2021, with fundraising assistance from Macquarie Capital. The Company has until December 31, 2021 to raise the funds. The settlement includes mutual releases from claims and a five-year non-compete clause for Saucier and Triangulum. The Company's board views this settlement positively as it may reduce costly litigation expenses.