LAS VEGAS, Oct. 03, 2023 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTC: GLXZ), the world’s largest independent developer and distributor of casino table games and technology will unveil innovative new content and technology at this year’s Global Gaming Expo (G2E) from October 10-12 in booth #4016.

“We’re thrilled to be exhibiting at G2E and for the opportunity meet with our customers and showcase some of the exhilarating new products and titles we’ve been working on,” shared Todd Cravens, President and CEO of Galaxy Gaming. “Through our investment in building the best-in-class operating system, developing thrilling new and proven titles, and our strong iGaming roadmap, we remain committed to delivering the greatest table games experience to everyone, everywhere.”

Galaxy’s newest technology and table games will be showcased in their booth including the inventive products below:

Galaxy Operating System’s Electrifying Dynamic Progressive

GOS’ flexible electronic bonusing platform powers the world’s first Dynamic Progressive. Unlike any other progressive, Dynamic Progressive blends our most popular games with an exhilarating experience where players see pays increase with electrifying and dynamic results. The latest version of Dynamic Progressive complete with electric new themes, animations, and celebrations.

Industry Leading Tech

Debuting at G2E 2023 are GOS’s new sensors with fully customizable patterns and colors, vibrant new tablevision screens featuring enhanced graphics, animations, and striking LED lights, and building on the success of Lunar Table Display, the Lunar Table Display II, an electronic dice and roulette tracker. LTD II is designed to simplify the tracking of Galaxy optional wagers including Bonus Craps™, Repeater Bets™, Repeater Bets Plus™ and Repeater Bets for Roulette.

Table Games Content for Everyone, Everywhere

Galaxy’s robust table game content library grew even stronger in 2023 after launching brand new titles like Keep It Straight Poker™, a perfect complement to the player-favorite High Card Flush™, and the distribution of the #1 baccarat brand in North America, EZ Baccarat, both of which will be featured in-booth. Other product highlights include 21+3™, Lucky Ladies™ and Perfect Pairs™ side bets all on one triple progressive blackjack table and the fast and fun 3 Dice Baccarat™.

Additional titles available to play in-booth will include Roulette Up™ with digital tracking powered by GOS, Split To Double™, Lucky 9™, and High Roller Hold’em,

Galaxy Gaming Digital Portfolio Expands

Galaxy Gaming Digital is the leading licensor of proprietary casino table games in the online gaming world. Leading into G2E, Galaxy will launch the first collection of their Galaxy-built RNG games– Split to Double Blackjack™, Roulette Up™, and Rising Phoenix™ Baccarat. 

In the last twelve months, over two billion wagers worldwide have been made online on Galaxy Gaming side bets alone and new Galaxy Gaming titles are getting launched every month. These titles can be found on games developed by Galaxy iGaming partners across over 1,000 of the world’s leading online casino websites and will be featured at Galaxy’s booth.

Don’t miss these game-changing table games and solutions at booth #4016. To stay up-to-date or for complimentary registration visit www.galaxygaming.com/G2E

About Galaxy Gaming
Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide. Galaxy Gaming offers games that are proven to perform developed by gaming experts and backed by the highest level of customer support. Galaxy Gaming Digital is the world’s leading licensor of proprietary table games to the online gaming industry.

This press release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,” “estimates,” “believes,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. All forward-looking statements are based on current expectations and projections of future events.

These forward-looking statements reflect the current views, models, and assumptions of Galaxy Gaming, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in Galaxy Gaming’s performance to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of Galaxy Gaming to enter and maintain strategic alliances, product placements or installations in land based casinos or grow its iGaming business, garner new market share, secure licenses in new jurisdictions or maintain existing licenses, successfully develop or acquire and sell proprietary products, comply with regulations, changes in gaming related and non-gaming related statutes and regulations and/or self-imposed restrictions imposed on and by our customers that affect their revenues in land-based casino and online casino markets, have its games approved by relevant jurisdictions, and adapt to changes resulting from the COVID-19 or other pandemics including without limitation, government imposed shut downs, travel restrictions and supply chain interruptions, and other factors. All forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. Galaxy Gaming expressly disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Contact:

Media:
Phylicia Middleton (702) 938-1753
Investors:
Harry Hagerty (702) 938-1740

LAS VEGAS, Sept. 26, 2023 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTC: GLXZ), the world’s largest independent developer and distributor of casino table games and technology announced today that they will deliver Galaxy Operating System™ (GOS) as the table games system for 50+ ships across the globe with Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world’s largest leisure travel company. Already live on over 20 ships, GOS will power the jackpot progressive system for Carnival Corporation ships, including Carnival Cruise Line^®, Holland America Line^®, and Princess Cruises^®.

Launched this year, GOS is the next-generation game management system featuring innovative progressive jackpot options, striking LED sensors, and first-of-its kind digital tracking.

“Carnival Corporation is a global leader in providing first-class experiences for their guests and our continued collaboration is a testament to our shared focus,” said Todd Cravens, President and CEO of Galaxy Gaming. “We’re thrilled that the deployment of our GOS system will deliver the best-in-class progressive experience and world-famous content to their casino players fleet-wide.”

“Our vision at Carnival Corporation is to deliver unforgettable happiness by providing extraordinary cruise vacations to millions of guests. To that end, the Galaxy Operating System will help us create a table game experience that is second to none, ramping up the fun, excitement and rewards more than ever before,” said Marty Goldman, Senior Vice President of Global Casino Operations for Carnival Corporation. “We expect the new games to be an instant hit with our guests.”

Those interested in learning more about GOS are encouraged to visit www.galaxygaming.com.

About Galaxy Gaming

Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide. Galaxy Gaming offers games that are proven to perform developed by gaming experts and backed by the highest level of customer support. Galaxy Gaming Digital is the world’s leading licensor of proprietary table games to the online gaming industry.

About Carnival Corporation & plc

Carnival Corporation & plc is the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines – AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn.

This press release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,” “estimates,” “believes,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. All forward-looking statements are based on current expectations and projections of future events.

These forward-looking statements reflect the current views, models, and assumptions of Galaxy Gaming, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in Galaxy Gaming’s performance to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the ability of Galaxy Gaming to enter and maintain strategic alliances, product placements or installations in land-based casinos or grow its iGaming business, garner new market share, secure licenses in new jurisdictions or maintain existing licenses, successfully develop or acquire and sell proprietary products, comply with regulations, changes in gaming related and non-gaming related statutes and regulations and/or self-imposed restrictions imposed on and by our customers that affect their revenues in land-based casino and online casino markets, have its games approved by relevant jurisdictions, and adapt to changes resulting from the COVID-19 or other pandemics including without limitation, government imposed shut downs, travel restrictions and supply chain interruptions, and other factors. All forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. Galaxy Gaming expressly disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Contact:

Media:
Phylicia Middleton (702) 938-1753
Investors:
Harry Hagerty (702) 938-1740

LAS VEGAS, Aug. 14, 2023 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems for land-based casinos and iGaming content, announced today its financial results for the quarter and six months ended June 30, 2023.

Financial Highlights

Q2 2023 vs. Q2 2022

• Revenue increased 33% to $7,525K
• Adjusted EBITDA increased 36% to $3,218K
• Net income of $357K vs. net loss of $(1,116)K

1H 2023 vs. 1H 2022

• Revenue increased 29% to $14,948K
• Adjusted EBITDA increased 25% to $6,303K
• Net income of $467K vs. net loss of $(1,130)K

Balance Sheet Changes (vs. December 31, 2022)

• Cash increased 3% to $18,728K
• Total long-term debt¹ (gross) decreased to $58,563K from $59,740K
• Stockholders’ deficit decreased to $(16,937)K from $(17,885)K

_______________
¹ Includes current portion.

Executive Comments

“Q2 2023 was a record quarter for us in revenue, adjusted EBITDA and cash on hand,” said Todd Cravens, President and CEO. “But Q2 was meaningful for more than just the numbers. We announced a ten-year agreement with Evolution, cementing the relationship with our largest customer well into future. We also announced that, in September, we will become the exclusive distributor for EZ Baccarat^® in the US, Canada, the UK and online, an opportunity that we think can generate several million dollars in new revenue for us. And after the quarter, we saw the first installations of our GOS platform in the US and UK and we are very pleased with the results. It has been a very busy six months for us and I want to publicly thank all my fellow Galaxians for their loyalty and dedication.”

“Consistent with Q1, perpetual license sales to a single GG Core customer were $1.6 million in Q2,” said Harry Hagerty, CFO. “Excluding those sales, revenue in GG Core was $3.8 million in Q2 23 as compared to $3.7 million in Q2 22. In GG Digital, revenue (net) was $2.2 million in Q2 23 as compared to $1.9 million in Q2 22.

“Our liquidity is good,” Hagerty continued. “At quarter-end, cash was $18.7 million and our long-term debt was $58.6 million. Adjusted EBITDA of $3.2 million was well in excess of the $1.9 million in cash interest in the quarter. Our loan from Fortress Credit Corp. requires our net leverage not to exceed 6.0x at any of the quarter-ends in 2023, and at the end of Q2 we were at 3.4x, comfortably in compliance. It remains our intention to refinance our debt, but conditions in the bank market are less robust than they were at the beginning of the year.   Our centerline plan is to continue to reduce our net leverage so that we can be ready to act when the bank market improves.

“With respect to fiscal 2023, we are increasing our guidance for revenue (net of iGaming royalties) from a range of $27.5-$28.5 million to a range of $29-$30 million, and we are increasing the guidance for Adjusted EBITDA to the high end of the previously announced range of $13.0-13.25 million. We expect significantly reduced sales of perpetual licenses in the second half of 2023, offset by increased revenue from our GOS installations as well as from EZ Baccarat placements. This forecast assumes no impact to our business from the war in Ukraine, and no economic recession. Finally, the forecast is based on currency exchange rates that we experienced in the second quarter.”

The company will update its investor deck to reflect the results this quarter. Investors are encouraged to send questions to management at [email protected] by Wednesday, August 16. Management will post their answers to investors on August 23.

Forward-Looking Statements
This press release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,” “estimates,” “believes,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections.  All forward-looking statements are based on current expectations and projections of future events.

These forward-looking statements reflect the current views, models, and assumptions of Galaxy Gaming, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in Galaxy Gaming’s performance to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of Galaxy Gaming to enter and maintain strategic alliances, product placements or installations, in land based casinos or grow its iGaming business, garner new market share, secure licenses in new jurisdictions or maintain existing licenses, successfully develop or acquire and sell proprietary products, comply with regulations, have its games approved by relevant jurisdictions, and adapt to changes resulting from the COVID-19 pandemic and other factors. All forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events, or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. Galaxy Gaming expressly disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.

About Galaxy Gaming

Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, and cruise ship and casinos worldwide. In addition, through its wholly owned subsidiary, Progressive Games Partners LLC, Galaxy licenses proprietary table games content to the online gaming industry. Connect with Galaxy on Facebook, YouTube and Twitter.

Non-GAAP Financial Information

Adjusted EBITDA includes adjustments to net loss/income to exclude interest, taxes, depreciation, amortization, share based compensation, gain/loss on extinguishment of debt, foreign currency exchange gains/losses, change in estimated fair value of interest rate swap liability and severance and other expenses related to litigation. Adjusted EBITDA is not a measure of performance defined in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). However, Adjusted EBITDA is used by management to evaluate our operating performance. Management believes that disclosure of Adjusted EBITDA allows investors, regulators, and other stakeholders to view our operations in the way management does. Adjusted EBITDA should not be considered as an alternative to net income or to net cash provided by operating activities as a measure of operating results or of liquidity. Finally, Adjusted EBITDA may not be comparable to similarly titled measures used by other companies.