LAS VEGAS, May 15, 2013 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (GLXZ), announced today its results for the three months ended March 31, 2013. The Las Vegas-based company is the world’s second-largest developer, manufacturer and distributor of cutting-edge products for the casino industry, including casino table games such as: Lucky Ladies, Texas Shootout, Emperor’s Challenge, Deuces Wild, 21+3, Three Card Poker, Bonus Craps and High Card Flush. Galaxy also develops innovative electronic wagering platforms and systems such as its Bonus Jackpot System, Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table gaming system.

Financial Highlights

Q-1 2013 vs. Q-1 2012

• Revenue of $1,896K increased 15% or $251K from $1,645K.
• EBITDAS of $812K improved 47% or $259K from $553k.
• Income before taxes of $153K improved $324K from a loss of ($171K).

Q-1 2013 vs. Q-4 2012

• Revenue of $1,896K decreased 0.9% or $17K from $1,913K.
• EBITDAS of $812K increased 0.7% or $5K from $807K.
• Income before taxes of $153K decreased 41% or $108K from $260K.

Executive Comments

“Following on the heels of our best year ever in 2012, we are pleased to kick off 2013 with the strongest first quarter in our Company’s history,” announced Robert Saucier, Galaxy Gaming’s CEO. “Our continued focus remains on expanding our base of high-margin recurring revenues, while bolstering our cash flows and profits. With the significant improvements gained to start the year, 2013 is expected to further build on 2012′s momentum and could be another record year, particularly in light of anticipated contribution from our new product offerings and the expansion of our footprint, both domestically and internationally,” Saucier added.

Gary A. Vecchiarelli, Galaxy’s CFO stated, “Galaxy Gaming is in a great position, with a positive growth trend and a solid financial standing. This historic first quarter sets the stage for our best year yet and will only get better with the commercialization of innovative products like High Card Flush. The excitement we are generating is translating into higher revenues and a welcome impact on our top and bottom lines.”

Conference Call

The Company will host an investor conference call to discuss its financial and operating results.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world’s second largest developer, manufacturer and distributor of casino table games including Lucky Ladies, Texas Shootout, Emperor’s Challenge, Deuces Wild, 21+3, Three Card Poker, Bonus Craps and High Card Flush. Galaxy also develops innovative electronic wagering platforms and systems such as its Bonus Jackpot System, its Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table Gaming System. Galaxy Gaming distributes its products to casinos worldwide.

Contact:

Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

The Company is expected to file its quarterly report Form 10-Q with the U.S. Securities and Exchange Commission on Wednesday, May 15, 2013.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world’s second largest developer, manufacturer and distributor of casino table games including Lucky Ladies, Texas Shootout, Emperor’s Challenge, Deuces Wild, 21+3, Three Card Poker and Bonus Craps. In addition, it develops innovative and enhanced electronic wagering platforms and systems such as its Bonus Jackpot System, its Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table Gaming System. Galaxy Gaming distributes its products to casinos worldwide.

Contact:

Galaxy Gaming
Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

“This is a very important conference, and we are looking forward to connecting with our current investors who have profited from Galaxy Gaming and also spreading the word about what our successful and unique business is all about,” said the company’s CEO, Robert B. Saucier.

Las Vegas-based Galaxy Gaming is the world’s second-largest developer, manufacturer and distributor of cutting-edge products for the casino industry, including casino table games, enhanced game systems and e-Tables. The company will also be demonstrating the very successful High Card Flush, voted Best New Table Game of 2012 by Casino Journal.

The MoneyShow will be held from May 13-16 at Caesar’s Palace Las Vegas, which is also one of the primary clients and largest showcases of Galaxy Gaming products.

“Through the toughest economic times and in the most challenging economic region in the country, Galaxy Gaming continues its momentum of success,” said Gary A. Vecchiarelli, the company’s CFO. “We are achieving consistent growth and executing effective strategies at a time when many in our industry simply can’t compete. That’s exactly what retail investors look for in companies our size.”

The trade show is known for establishing relationships with the most prominent professionals and financial media in the country and providing the active and thoughtful investor with the opportunity to gain an in-depth knowledge of growth companies.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) develops, manufactures and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

Contact:

Galaxy Gaming
Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

At the time of the acquisition, High Card Flush was installed in only one casino. Immediately after the acquisition, Galaxy Gaming made innovative improvements to the game and introduced it to the gaming industry at the annual Global Gaming Exposition in Las Vegas last October. After three days of demonstrating High Card Flush in Galaxy’s booth, the game received the highest accolades of any table game on display. Galaxy also announced at the exposition that the game would enter into a beta-test or “incubation” period, whereby the Company would closely monitor the game’s performance and player behavior to determine optimal design and implementation. In December, High Card Flush was named Casino Journal’s Best New Table Game of 2012 at the Raving’s Cutting Edge Table Game Conference hosted at the Mirage in Las Vegas.

The incubation period began in January 2013, with ten casinos participating throughout California, Nevada and Washington. In many of these casinos, Galaxy’s representatives partnered with the casinos to offer novel player introduction promotions. Marketing campaigns including the tagline, “Feel the Rush with High Card Flush” were also introduced and live updates of the promotions were posted to Galaxy’s Facebook page (Facebook.com/GalaxyGamingLV).

“We always thought we had acquired something extraordinary when we purchased High Card Flush,” said Robert Saucier, Galaxy Gaming’s CEO. “However, the exceptional results our clients recorded during this ‘incubation period’ support the speculation that this game may be destined to become an industry legend. During the test, we had a diverse number of placements to determine the game’s popularity and profitability with different demographics and locales. In every environment we tested, the game performed exceedingly well, often outperforming each casino’s other proprietary table games. With successful testing and analysis now complete, our sales team can fulfill the backlog of requests in queue from other casinos. This game is expected to be a ‘game changer’ for us, pun intended,” concluded Mr. Saucier.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) develops, manufactures and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

Contact:

Galaxy Gaming
Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

LAS VEGAS, April 1, 2013 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTCBB:GLXZ), announced today its results for the quarter and twelve months ended December 31, 2012. The Las Vegas-based company is the world’s second-largest developer, manufacturer and distributor of cutting-edge products for the casino industry, including casino table games such as: Lucky Ladies, Texas Shootout, Emperor’s Challenge, Deuces Wild, 21+3, Three Card Poker, Bonus Craps and High Card Flush. Galaxy also develops innovative electronic wagering platforms and systems such as its Bonus Jackpot System, Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table gaming system.

Financial Highlights

2012 vs. 2011

• Revenue of $7,223K increased 96% or $3,538K from $3,685K.
• EBITDAS of $2,847K increased 1,837% or $2,700K from $147K.
• Net income* of $622K improved $1,095K from a loss of ($473K).

Q-4 2012 vs. Q-4 2011

• Revenue of $1,913K increased 35% or $492K from $1,421K.
• EBITDAS of $839K increased 72% or $350K from $488K.
• Net income* of $601K improved $611K from a loss of ($10K).

Q-4 2012 vs. Q-3 2012

• Revenue of $1,913K increased 2% or $40K from $1,873K.
• EBITDAS of $838K increased 8% or $60K from $778K.
• Net income* of $601K increased 362% or $471K from $130K.

* Net income in 2012′s fourth quarter includes an income tax benefit of $342K.

Executive Comments

“We are pleased that our team’s devotion to executing our business plan can now be reflected by solid financial results,” announced Robert B. Saucier, Galaxy Gaming’s CEO. “At the beginning of 2012, our internal financial goals were to achieve approximately $7 million in revenues, $2 million in EBITDAS and a break-even net profit. Clearly, we have exceeded 2012′s ambitious goals.”

Gary A. Vecchiarelli, Galaxy’s CFO added, “Capitalizing on the opportunities provided by our purchase of the Prime Table Games’ portfolio and increased world-wide market penetration, Galaxy Gaming is a much different company today than even a year ago. Not only have revenues practically doubled, but profitability and cash flow have increased significantly due to the solid strategies we have executed. In just one year, our annual revenues rose over $3.5 million, EBITDAS increased $2.7 million and profits are at a record all-time high. Last year, we had negative cash flow from operations. Today, we are demonstrating our ability to generate significant cash, even as we internally fund future growth initiatives and pay down debt.”

“Posting record recurring revenues, profits and cash flow undoubtedly defined 2012 as a landmark year for Galaxy Gaming,” continued Mr. Saucier. “But our group is not content on resting on our laurels. Fortunately, the dramatic increases in high-margin recurring revenues, combined with a continuing conviction of frugality, provides us with the means to internally fund development of new products and implement additional growth strategies. Our performance in 2012 serves as a springboard for us to excel in 2013 and beyond. Galaxy Gaming is undoubtedly on target to be a major player in this lucrative industry.”

Conference Call

An investor conference call is scheduled to discuss financial and operating results.

When: Tuesday, April 2nd at 1:00pm Pacific Time (4:00pm Eastern)
US/Canada: (866) 538-3621
International: (908) 982-4689
Conference ID: 27806548
Web Presentation: www.galaxygaming.com/investor-relations

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world’s second-largest developer, manufacturer and distributor of innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

Contact:

Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

Conference Call

When: Tuesday, April 2nd at 1:00pm Pacific Time (4:00pm Eastern)

US/Canada: (866) 538-3621

International: (908) 982-4689

Conference ID: 27806548

Web Presentation: http://www.galaxygaming.com/investor-relations/

The Company is expected to file its annual report with the U.S. Securities and Exchange Commission on Form 10-K on Monday, April 1, 2013.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world’s second largest developer, manufacturer and distributor of innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

Contact:

Galaxy Gaming
Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254
 

Products likely to be introduced into Maryland include popular casino games Lucky Ladies, Texas Shootout, Emperor’s Challenge, Deuces Wild, 21+3, Bonus Craps and High Card Flush, which was voted Casino Journal’s Best New Table Game of 2012. In addition, Galaxy intends to offer the Company’s innovative and enhanced electronic wagering platforms and systems including Bonus Jackpot System, Inter-Casino Jackpot System and MEGA-Share System.

“Recent legislation now allows live table games in Maryland, which makes this a very attractive market for us,” stated Dean Barnett, Regional Sales Manager for Galaxy. “This is a rapidly growing market with 12 casinos now operational or planned.”

Penn National Gaming (PENN) operates the Hollywood Casino in Perryville and is the first Maryland casino to include Galaxy’s products. “Hollywood Casino Perryville was excited to bring table games to Maryland and was pleased to work with Galaxy Gaming during the process,” said Penn’s Bill Hayles, General Manager for Hollywood Casino.

“Fresh on the heels of our recent Louisiana approvals, we are equally pleased to announce our Company’s approval in Maryland,” said Robert Saucier, Galaxy Gaming’s CEO. “Maryland is a solid market and our expansion into the state solidifies our presence in the growing Atlantic Coast gaming industry and will contribute to our increasing global recurring revenue base. Together with Louisiana, we are presented with new opportunities for our Company to further grow domestically, particularly as more and more governments discover the benefits of authorizing gaming in their respective jurisdictions. I want to thank the gaming regulatory officials in Maryland for their efficiency in approving our application.”

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) develops, manufactures and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

Contact:

Galaxy Gaming
Robert B. Saucier, CEO
Gary A. Vecchiarelli, CFO
(702) 939-3254

SAN FRANCISCO – March 18, 2013 - Merriman Capital, Inc., a wholly-owned subsidiary of Merriman Holdings, Inc. (MERR), initiated coverage of Galaxy Gaming, Inc. (GLXZ) with a Speculative Buy rating and a $0.36 price target.

Headquartered in Las Vegas, Galaxy Gaming, Inc. manufactures and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.

“Galaxy Gaming is a leading player in innovative felt-table gaming concepts and products,” commented Joel Achramowicz, Managing Director at Merriman Capital.  “And, by utilizing networked computer technologies-including Cloud computing–the company has introduced exciting lottery-style jackpots that heighten gaming enthusiasm while also providing new recurring revenues to the company.”

CLICK HERE FOR FULL REPORT

About Merriman Capital, Inc.

Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies. The firm also provides capital raising, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/.

Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April  30, 2012 and the Form 10-Q filed on November 14, 2012 . Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2012and the Form 10-Q filed on November 14, 2012, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on “Investor Relations.”

At the Company:

Joel Achramowicz
Managing Director Equity Research
(415) 568-3926

Adriana Piltz
Director of Research Merriman Capital, Inc.
(646) 292-1424

For Disclosures please see full report in the link above.