Galaxy Gaming Sees Revenues Drop 87.8%

This story was published more than 3 years ago.

Gaming firm Gaming Galaxy has announced that their gaming revenues fell 87.8% during the second quarter, slipping to just $664,000 during the quarter and warning investors of potential rough waters ahead.

The company said that virtually all land casino revenue was wiped out, and that any money trickling in came through the iGaming sector. The vast majority of the money coming in came from Europe, Africa, and the Middle East.

Galaxy CEO Todd Cravens spoke about the situation, noting: "The second quarter of 2020 was painful for everyone in the global casino industry. We earned virtually no revenue from our land-based clients, almost all of whom were shut for the entire quarter. We used the time to develop new games and technologies that we hope to introduce later this year."

We'll be sure to keep an eye on Galaxy's operations and let readers know as their financial outlook changes.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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23 August 2020 - 12:28am

Ouch that's terrible news, Seems this covid outbreak takes no prisoners, Ive seen how badly it has hit South African business and our unemployment rate is at close to 40% its bad really bad