Galaxy Gaming Suffers Lower Income in 2017

This story was published more than 6 years ago.

Internet casino game developer Galaxy Gaming has revealed their full year 2017 financial results, revealing that they took some heavy losses during the period.

Key financial indicators for the year ending December 31st, 2017 were:

  • Revenues of $14.9 million, up 19% from the year prior
  • EBITDA down 3% to $5.1 million
  • Pre-tax income down 78% $553,000
  • Net loss of $11,000, which is down from a profit of $1.8 million the year prior

The fourth quarter of the year did end up boosting results a bit, as revenues were up 21% in the period to $3.9 million

Commenting on the company's results Galaxy CEO Todd Cravens said, "We finished the year well, with year-over-year revenue growth in the quarter of 21%. More importantly, revenue growth exceeded expense growth, resulting in year-over-year growth in adjusted EBITDA for the first time this year."

"We will continue to make additions in headcount and other resources to support our long-term growth, but we are hopeful that we can deliver increases in both revenue and adjusted EBITDA in 2018."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
1 reply • Last post


Forum AngelForum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 7654
Thanks given: 4239
Thanks received: 1165
5 April 2018 - 11:33am

Obviously the fourth quarter was something of a saviour to the Galaxy Gaming yearly results, otherwise it would of look a lot worst I could imagine.