GALAXY GAMING INC - GLXZ STOCK NEWS

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.

Galaxy Gaming (GLXZ) has announced significant developments in its omnichannel table game offerings. The company will debut a customizable Baccarat portfolio, including games like Rising Phoenix and Golden Talons, allowing unique side bet combinations. Additionally, it will launch high-action titles such as Split to Double Blackjack and Super Omaha Poker. Over one billion online bets were placed on Galaxy's side bets in the past year, with expectations for growth in new markets. A new partnership with Spin Games will introduce 21+3 Progressive Blackjack soon.

Galaxy Gaming, Inc. (OTCQB:GLXZ) reported strong Q2 2021 results, highlighting a significant revenue increase to $4.749 million from $664,000 year-over-year.

Adjusted EBITDA rose to $2.147 million, reversing a loss of $(1.420 million). The company achieved a net income of $550,000, compared to a net loss of $(2.207 million) in Q2 2020. For H1 2021, revenue reached $9.032 million, up from $5.158 million, with net income at $639,000.

Cash decreased 4% to $5.780 million, but total debt declined to $50.767 million.

Galaxy Gaming, Inc. (OTC: GLXZ) has announced the acquisition of High Variance Games, LLC's game portfolio, including titles like Super Blackjack and Super Texas Hold’em. This strategic move aims to enhance Galaxy's innovative content offerings and expand its reach in both land-based and digital gaming markets. Jeff Hwang, CEO of High Variance, expressed confidence in Galaxy's distribution capabilities and management. The acquisition highlights a focus on engaging and high-action games tailored to modern gamblers. This partnership is expected to diversify Galaxy's catalog and maximize player engagement.

Galaxy Gaming, Inc. (OTC: GLXZ) has launched the first Perfect Pairs live gaming dual progressive jackpots at Aspers Westfield, Stratford, enhancing player experience and casino offerings. This initiative stems from a partnership with John Wicks, creator of Perfect Pairs, aimed at exclusively offering this progressive jackpot in UK land-based casinos. Gavin Wright from Galaxy Gaming highlighted the value of this innovative product, while Aspers Casino expressed excitement over this unique gaming experience that combines the popular Perfect Pairs side bet with a progressive jackpot format.

Galaxy Gaming, Inc. (OTC: GLXZ) has announced an exclusive agreement with John Wicks to offer the Perfect Pairs live gaming progressive jackpot on land-based table games in the UK. This partnership leverages Galaxy Gaming's success with Perfect Pairs in the iGaming sector, enhancing player experience and revenue opportunities for casinos. The introduction of a 'Dual Progressive' option for Blackjack side bets, including Perfect Pairs and 21+3, aims to create unique gambling experiences. This move aligns with the growing demand for diverse betting options in casinos.

Galaxy Gaming, Inc. (OTCQB: GLXZ) reported its Q1 2021 financial results, showing a 4.7% revenue decline to $4,283K. Adjusted EBITDA rose 12.8% to $1,692K, while net income decreased to $89K from $117K year-over-year. The company noted a 1.5% increase in cash to $6,081K and a reduction in long-term liabilities by $569K.

The COVID pandemic significantly impacted operations, particularly in the UK. However, iGaming growth and new game installations are expected to enhance revenue as restrictions ease.

Galaxy Gaming, Inc. (OTCQB: GLXZ) reported financial results for Q4 and FY 2020, showing significant declines due to industry challenges. Q4 revenue fell 37% to $3,274K, while FY revenue dropped 52% to $10,230K. Adjusted EBITDA was down 41% at $1,261K for Q4 and an 84% decline for the year at $1,377K. A net income of $1,179K in Q4 contrasts sharply with a net loss of $(2,209)K for FY 2020. Despite these figures, management remains optimistic about future growth, particularly in iGaming, following the acquisition of PGP.

Galaxy Gaming, Inc. (OTC:GLXZ) has appointed Paul Omohundro as the new Vice President of Business Development. Omohundro, with over 20 years of experience, aims to expand Galaxy's reach in new markets, particularly in land-based casinos and the rapidly growing iGaming sector. According to CEO Todd Cravens, Omohundro's expertise will be vital in pursuing new product opportunities. Omohundro expressed enthusiasm for joining the company and contributing to its growth. Galaxy Gaming specializes in innovative casino games and technology solutions, serving both physical and online markets worldwide.