Galaxy Gaming Q1 2022 revenue up 38

Galaxy Gaming has reported revenue of $5

Galaxy Gaming has reported revenue of $5.9m for the firstly quarter of 2022, a 38% step-up from the prior-year period.

The mathematical group noted that familiarised Earnings Before Interest Taxes Depreciation and Amortization increased past 58% year-on-year to $2.7m, compared to $1.7m in Q1 2021. Cash increased by 7% to $17.2m, patch summate long-term debt decreased from $60.5m to $60.2m.

“We got cancelled to a upright start up for 2022,” said Galaxy Gaming President and CEO Sir Alexander Robertus Todd Cravens. “Even though some of our high-end customers inward London remain affected past worldwide move around disruptions, we had put down porcine revenues of $6.7m inwards the quarter. In the land-based sector, our new baccarat games are existence well-received.

“Our iGaming byplay continues to grow, with iGaming gross revenues of $2.8m in Q1, an increment of 58% from Q1 2021 and 35% from Q4 2021. In both the land-based and iGaming sectors, we get new games and other products that will live launched later this year, and we’re optimistic that operators and players will reenforcement them.”

The developer and electrical distributor of cassino tabularise games and enhanced systems for land-based casinos and iGaming content latterly launched its young table gamy reformist operating system, Triton Casino Systems, building on its precursor, the Bonus Jackpot System.

Galaxy Gaming CFO Harry Hagerty commented: “We wait to go along to build hard currency over the row of the year to stay fresh nett leveraging as low-pitched as possible. Total Net Leverage is the only when financial compact inwards our Fortress loan, and we were comfortably inward compliance with that compact at quarter-end.”