Canada
Galaxy Gaming Reports Bleak Q2 Results
Galaxy Gaming, a Nevada-based casino games manufacturer, has reported decreased revenues in the financial report for the second fiscal quarter ended June 30, 2020.
Revenue slipped by 88 per cent to $664,000 and adjusted EBITDA dropped by 159 per cent to $1.42m as the casinos remain mostly shut owing to Covid-19 restrictions. The overall income was $1.1m and the net loss is $2.2m.
“The second quarter of 2020 was painful for everyone in the global casino industry,” said Todd Cravens, Galaxy’s president and CEO. “We earned virtually no revenue from our land-based clients, almost all of whom were shut for the entire quarter.
“We used the time to develop new games and technologies that we hope to introduce later this year. Our online gaming business continued to perform well and we expect to close our acquisition of Progressive Games Partners later in August, which will allow us to work more closely with our igaming clients.”
“Our liquidity remained stable in Q2 as we drew down on our revolver and accessed funds through the PPP programme,” stated Harry Hagerty, Galaxy’s CFO.
“We have been current in payments of interest and principal on our debt obligations even as our revenues were significantly diminished. However, going forward, we expect that the second-quarter results will negatively affect our ability to meet one or more of the financial covenants in our bank debt and we are pleased that Nevada State Bank has agreed to forbear enforcing certain of the covenants through the first quarter of 2021.”
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AGLC
Internet Vikings Expands Canadian Footprint into Alberta
Internet Vikings, a licensed hosting provider for the North American iGaming and online sports betting industry, has announced that its hosting solutions are ready to launch in Alberta, Canada. Internet Vikings’ infrastructure and operational processes already align with the province’s expected requirements, meaning the company can help operators enter the Alberta market faster and with greater confidence.
The expansion comes following the release of updated hosting, infrastructure, and security requirements by the AGLC. As Alberta prepares to open its market, operators and suppliers are facing strict requirements around cybersecurity and disaster recovery.
Internet Vikings’ experience supporting regulated operators across North America positions the company to help businesses comply with these operational and regulatory requirements efficiently from day one.
Requirements include adherence to internationally recognized security standards such as SOC 2 and ISO 27001. In addition, operators are expected to maintain disaster recovery environments, encrypted immutable backups, and perform routine recovery testing to ensure business continuity.
“We are ready to provide the infrastructure and local expertise operators need to launch and scale successfully. We are already working with operators preparing for launch and understand the urgency involved in getting compliant infrastructure deployed quickly,” said Rickard Vikström, CEO and Founder of Internet Vikings.
Internet Vikings first established operations in Ontario in 2022 and is now expanding its Canadian footprint into Alberta with hosting solutions, including VMware cloud hosting, bare metal servers, bare metal GPU servers, disaster recovery, and backup solutions.
The post Internet Vikings Expands Canadian Footprint into Alberta appeared first on Americas iGaming & Sports Betting News.
Alberta
Gaming Corps wins conditional Alberta iGaming supplier licence
Gaming Corps has secured a conditional iGaming supplier licence from the Alberta Gaming, Liquor & Cannabis (AGLC), clearing the company to manufacture and supply gaming software in the province ahead of Alberta’s regulated market launch on 13 July 2026.
The licence was granted through Gaming Corps’ subsidiary, Gaming Corps Malta Ltd. The company said the approval positions it to enter Alberta’s regulated iGaming market from day one.
Alex Lorimer, COO at Gaming Corps said: “Securing our Alberta licence marks another important step in Gaming Corps’ regulated market expansion strategy. Canada continues to represent a key growth region for us, and we’re excited to bring our expanding portfolio of games and unique mechanics to operators and players in Alberta.”
Alberta is set to become Canada’s second regulated open iGaming market after Ontario, with the AGLC overseeing licensing and compliance requirements for operators and suppliers.
The post Gaming Corps wins conditional Alberta iGaming supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
AGLC
Gaming Corps Secures Alberta iGaming Licence Ahead of Market Launch
Gaming Corps has secured a conditional iGaming supplier licence from the Alberta Gaming, Liquor & Cannabis (AGLC), positioning the studio for launch in Alberta’s regulated market from day one.
Granted through its subsidiary Gaming Corps Malta Ltd, the licence allows the company to manufacture and supply gaming software in the Canadian province ahead of the market opening on 13 July 2026.
With approval now secured, Gaming Corps continues to accelerate its North American expansion strategy while strengthening its position in regulated markets.
The move gives operators in Alberta access to Gaming Corps’ portfolio of casino games and proprietary game mechanics as the province prepares to open its regulated iGaming framework.
Alex Lorimer, COO at Gaming Corps said: “Securing our Alberta licence marks another important step in Gaming Corps’ regulated market expansion strategy. Canada continues to represent a key growth region for us, and we’re excited to bring our expanding portfolio of games and unique mechanics to operators and players in Alberta.”
Alberta is set to become Canada’s second regulated open iGaming market, following Ontario, with the AGLC overseeing licensing and compliance requirements for operators and suppliers.
The post Gaming Corps Secures Alberta iGaming Licence Ahead of Market Launch appeared first on Americas iGaming & Sports Betting News.
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