{"id":282,"date":"2024-06-28T22:47:24","date_gmt":"2024-06-28T19:47:24","guid":{"rendered":"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/28\/galaxy-gaming-revenue-rises-171-in-q3-despite-covid-19-challenges\/"},"modified":"2024-06-28T22:47:24","modified_gmt":"2024-06-28T19:47:24","slug":"galaxy-gaming-revenue-rises-171-in-q3-despite-covid-19-challenges","status":"publish","type":"post","link":"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/28\/galaxy-gaming-revenue-rises-171-in-q3-despite-covid-19-challenges\/","title":{"rendered":"Galaxy Gaming Revenue Rises 171% in Q3 Despite COVID-19 Challenges"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/xkJaFTKZO_E\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The chief executive of Galaxy Gaming, Todd Cravens, cautioned that the gaming sector is still encountering challenges brought on by the COVID-19 outbreak, even though the firm saw a substantial increase in revenue during the third quarter compared to the previous quarter.<\/p>\n<p>Although revenue dropped by 66.5% year-on-year to $1.8 million in the third quarter, it marked a 171.4% rise from the second quarter, which encompassed the period when most, if not all, of Galaxy&#8217;s partner operators&#8217; establishments were shuttered due to the pandemic.<\/p>\n<p>The Americas and the Caribbean contributed the lion&#8217;s share of third-quarter revenue, generating $971,147, a decrease of 75.0%. Meanwhile, revenue from Europe, the Middle East, and Africa decreased by 44.1% to $826,686.<\/p>\n<p>However, revenue was largely counterbalanced by operating expenditures, leading to a 98.4% drop in earnings before interest, taxes, depreciation, and amortization (EBITDA) to $35,703.<\/p>\n<p>When taking into account other expenses, such as stock-based compensation, depreciation, and amortization, Galaxy&#8217;s operating loss for the quarter amounted to $898,303. This represented a substantial decrease from the $762,272 operating profit recorded in the preceding year. <\/p>\n<p>Removing non-operational expenditures, the primary costs encompass interest charges and charges associated with the repurchase of stock issued by Progressive Games Partners (PGP), the online vendor acquired by Galaxy, which experienced a pre-tax deficit of $1.2 million.<\/p>\n<p>Following the deduction of $133,708 in income tax, the company&#8217;s net deficit for the period amounted to $1.3 million, in contrast to a profit of $580,234 in the third quarter of 2019.<\/p>\n<p>Access the complete report on iGB North America.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chief executive of Galaxy Gaming, Todd Cravens, cautioned that the gaming sector is still encountering challenges brought on by the COVID-19 outbreak, even though [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Galaxy Gaming Sees Revenue Surge Despite COVID-19 Challenges<\/title>\n<meta name=\"description\" content=\"Galaxy Gaming reports a significant increase in revenue during the third quarter, but CEO Todd Cravens warns of ongoing COVID-19 impacts on the gaming sector.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/28\/galaxy-gaming-revenue-rises-171-in-q3-despite-covid-19-challenges\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Galaxy Gaming Revenue Rises 171% in Q3 Despite COVID-19 Challenges\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Galaxy Gaming reports a significant increase in revenue during the third quarter, but CEO Todd Cravens warns of ongoing COVID-19 impacts on the gaming sector.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/28\/galaxy-gaming-revenue-rises-171-in-q3-despite-covid-19-challenges\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Future of Casino Gaming | Licensed, Secure &amp; 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