Gaming House Makes Hay on Preliminary Results

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, August 6, 2019

Keeping investors kind of at bay, Las Vegas-based Galaxy Gaming, Inc. (OTC:GLXZ) made waves Tuesday with preliminary financial results for the quarter ending in June.

The company, a developer and distributor of casino table games and enhanced systems said in a news release it expects to file actual results for the latest quarter next week

Meantime, on a preliminary estimated basis, the Company expects to report revenue for Q2 2019 of approximately $5.4 million and adjusted EBITDA of $2.4 million. These figures compare to $4.5 million in revenue and $1.7 million in adjusted EBITDA for the comparable period in 2018. Further, the Company expects to report cash at $8.2 million and long-term debt (gross) was $48.6 million, including $39.1 million of subordinated debt issued in connection with the redemption transaction in May 2019.

Shares in GLXZ gained four cents, or 2.6%, to $1.60, on volume of just better than 45,000 shares.

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