Canada

Galaxy Gaming Reports Q4 and Full Year 2020 Results

Published

4 years ago

April 2, 2021

GamingAmericas.com

Galaxy Gaming has announced its financial results for the quarter and fiscal year ended December 31, 2020.

Financial Highlights

Q4 2020 vs. Q4 2019

Revenue decreased 37% to $3274K
Adjusted EBITDA decreased 41% to $1261K
Net income of $1179K vs. net income of $848K

Full Year 2020 vs. Full Year 2019

Revenue decreased 52% to $10,230K
Adjusted EBITDA decreased 84% to $1377K
Net loss of $(2209)K vs. net income of $2943K

Balance Sheet Changes (vs. December 31, 2019)

Cash decreased 38% to $5993K
Total long-term liabilities (gross) increased $4033K to $52,015K
Stockholders’ deficit decreased to $(24,797)K

Executive Comments

Todd Cravens, President and CEO of Galaxy Gaming, said: “2020 imposed great stresses on our industry, and Galaxy was not immune. However, I think we turned some of those stresses to our advantage. We were able to accommodate our clients during their closures and provide timely service to help them reopen, earning very high net promoter scores in an especially challenging time. From a product perspective, we used the downtime to develop new games and a new technology platform, and we will be launching these in 2021 as they are approved by our regulators. Finally, and most significantly, our acquisition of PGP in August made iGaming a much more important part of our business. We expect iGaming to be one of the major growth areas going forward, and we are well-positioned to benefit from those trends.”

European Gaming Congress 2024 (Warsaw, Poland)

Harry Hagerty, CFO of Galaxy Gaming, said: “Our motto in the pandemic was ‘Survive then Thrive.’ And thanks to the great cooperation and assistance from our friends at Nevada State Bank and the availability of certain government relief programs, we came through 2020 intact. We hope that the first half of 2021 will mark the end of the Survive phase and that the great things that Todd mentioned in his comments will allow us to start Thriving in the second half of 2021 and accelerating into 2022.”

Canada

ComeOn Group adds sportsbook to its offering in Ontario

Published

1 week ago

November 8, 2024

GamingAmericas.com

comeon-group-adds-sportsbook-to-its-offering-in-ontario

ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.

ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.

ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.

Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”

*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)

BCLC

INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform

Published

2 weeks ago

November 7, 2024

GamingAmericas.com

intralot-announces-new-project-with-the-british-columbia-lottery-corporation-for-online-lottery-platform

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.

The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.

Canada

IAGR announces Toronto as host city for 2025 conference

Published

3 weeks ago

October 30, 2024

GamingAmericas.com

iagr-announces-toronto-as-host-city-for-2025-conference

Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.

The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.

‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.

‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’

AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’

Stay tuned for registration details early next year.