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Galaxy Gaming Announces First Quarter 2021 Financial Results

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Galaxy Gaming Inc. has announced its financial results for the first quarter of 2021.

Financial Highlights

Q1 2021 vs. Q1 2020

Revenue decreased 4.7% to $4283K

Adjusted EBITDA increased 12.8% to $1692K

Net income of $89K vs. net income of $117K

Balance Sheet Changes (vs. December 31, 2020)

Cash increased 1.5% to $6081K

Total long-term liabilities (gross) decreased $569K to $51,483K

Stockholders’ deficit decreased to $(24,460)K

Executive Comments

“The COVID pandemic continued to affect our business in Q1. Casinos in the UK, our largest brick-and-mortar market, were shuttered for the entire quarter, and we continued to see capacity limitations in other important markets. However, as was the case in Q4 2020, our iGaming business made up most of the difference. iGaming went live in Michigan in February, and volumes were very strong. We expect additional increases in activity when our live dealer clients open up there. In addition to iGaming, new installations of our games and progressives in new markets continue to add to the top line,” Todd Cravens, President and CEO of Galaxy, said.

“I am happy to see progress in Q1, and am looking forward to getting all our customers up and going, as well as bringing new clients into the Galaxy,” Cravens added.

“Despite the continued effects of COVID, we managed to make modest headway in Q1. While revenue was slightly down versus Q1 of 2020, Adjusted EBITDA was up and we had positive cash flow. We are hopeful that COVID-related closures and limitations continue to recede through the remainder of 2021, allowing us to have normalized results in both the brick-and-mortar and online channels in 2022,” Harry Hagerty, CFO of Galaxy, said.

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Caesars Digital

RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion

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RubyPlay, a studio-based content ecosystem, is further strengthening its presence in Ontario as part of its broader North American growth strategy with a new partnership with Caesars Entertainment.

The partnership will see a curated selection of RubyPlay’s fan-favourite titles, including JMania® Lucky Pyggs, Mad Hit® Mr Coin and Diamond Explosion® 7s SE, made available on Caesars Entertainment’s online casino platforms including Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino.

This partnership is also set to expand in the near future with the addition of content from Koala Games, one of RubyPlay’s most popular titles. The launch with Caesars represents a significant milestone for RubyPlay in Ontario, building on its momentum following its initial entry into the province early last year, where its portfolio of high-performance games has already gained traction with top-tier operators.

Partnering with Caesars Digital underscores RubyPlay’s growing influence and reputation within a key global territory, as well as the strength of its multi-studio platform, which is designed to bring tailored content to regulated markets worldwide. The partnership also forms part of a broader collaboration, with potential to expand into additional North American markets.

Dima Reiderman, CCO at RubyPlay, said: “By launching with one of the most trusted names in gaming, we’re not only expanding our footprint in Ontario but also demonstrating the value of our multi-studio model.”

“Launching with Caesars in Ontario allows us to further scale our content offering within a highly competitive regulated market. Our approach is to deliver high-performing titles that align with each operator’s needs, combining the flexibility required for local markets with the consistency needed to scale, while ensuring efficient rollout and strong market relevance.”

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, added: “We’re committed to partnering with brands that bring high-quality, differentiated content to our players.

“RubyPlay provides exactly that with its steady pipeline of tailored, high‑performance titles and we’re looking forward to introducing their games to our online casino customers in Ontario and enhancing our content offering in the province.”

The post RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Caesars Digital

RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion

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rubyplay-partners-with-caesars-entertainment-in-ontario-to-advance-north-american-expansion

Latest launch on Caesars’ marquee online casino platforms marks a key milestone for studio ecosystem

RubyPlay, a studio-based content ecosystem, is further strengthening its presence in Ontario as part of its broader North American growth strategy with a new partnership with Caesars Entertainment.

The partnership will see a curated selection of RubyPlay’s fan-favourite titles, including JMania® Lucky Pyggs, Mad Hit® Mr Coin and Diamond Explosion® 7s SE, made available on Caesars Entertainment’s online casino platforms including Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino.

This partnership is also set to expand in the near future with the addition of content from Koala Games, one of RubyPlay’s most popular titles. The launch with Caesars represents a significant milestone for RubyPlay in Ontario, building on its momentum following its initial entry into the province early last year, where its portfolio of high-performance games has already gained traction with top-tier operators.

Partnering with Caesars Digital underscores RubyPlay’s growing influence and reputation within a key global territory, as well as the strength of its multi-studio platform, which is designed to bring tailored content to regulated markets worldwide. The partnership also forms part of a broader collaboration, with potential to expand into additional North American markets.

Dima Reiderman, CCO at RubyPlay, said: “By launching with one of the most trusted names in gaming, we’re not only expanding our footprint in Ontario but also demonstrating the value of our multi-studio model.”

“Launching with Caesars in Ontario allows us to further scale our content offering within a highly competitive regulated market. Our approach is to deliver high-performing titles that align with each operator’s needs, combining the flexibility required for local markets with the consistency needed to scale, while ensuring efficient rollout and strong market relevance.”

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, added: “We’re committed to partnering with brands that bring high-quality, differentiated content to our players.

“RubyPlay provides exactly that with its steady pipeline of tailored, high‑performance titles and we’re looking forward to introducing their games to our online casino customers in Ontario and enhancing our content offering in the province.”

The post RubyPlay partners with Caesars Entertainment in Ontario to advance North American expansion appeared first on Americas iGaming & Sports Betting News.

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Platipus Gaming secures Ontario supplier licence

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Platipus Gaming has obtained a supplier licence in Ontario, Canada, clearing the company to provide gaming content to licensed operators in the province.

The licence brings Platipus under the oversight and technical standards required in Ontario, with the company positioning the approval as part of its broader focus on regulatory alignment and responsible product supply.

A spokesperson from the Legal Department commented:
“We are pleased to receive our supplier licence in Ontario and to make our gaming content and solutions available. Following a comprehensive application process, we can now formally present this achievement as part of our regulated market presence.”

Viktoriia Andreasen, Head of Marketing, added:
“Ontario stands out as a well-structured and highly organised jurisdiction. It represents an important regulated market with strong operational standards”.

The company said the approval supports its “compliance-by-design” approach, where regulatory requirements are integrated early in product development, and that operating under Ontario’s framework can help support entry into other regulated markets that reference Ontario standards.

The post Platipus Gaming secures Ontario supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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