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AUTUMN ROUND-UP Galaxy Gaming
It’s been a time of positivity, of growth and creation for Galaxy, with acquisitions and expansion
Galaxy acquires PGP
In August, Galaxy Gaming fi nalised its acquisition of Progressive Games Partners which owns the exclusive worldwide online rights to a comprehensive suite of proprietary casino table games – including Galaxy’s. PGP has been in the iGaming business since 2003 and has strong relationships with many leading iGaming providers. The transaction is strategically advantageous to Galaxy as it increases the company’s exposure to the iGaming market, which is forecast to see signifi cant growth, especially in the US. The transaction is also attractive fi nancially as
it eliminates the distribution fee that Galaxy pays to PGP on Galaxy-owned games and gives Galaxy additional iGaming licensing revenue from several popular titles owned by other licensors. The company expects the transaction to be immediately accretive to earnings per share. “The world has changed dramatically since
we signed the purchase agreement for this deal back in February,” stated Todd Cravens, Galaxy’s President and CEO. “Our casino clients in the physical world have been very hard-hit by the COVID-19 crisis and are
generally struggling to get back to business levels they enjoyed before the lockdowns. By contrast, the iGaming business was a signifi cant benefi ciary of the shutdown, with US revenues in the second quarter of 2020 increasing 250% over the prior year. We believe that more US states will consider legalizing iGaming as a way to prevent the tax revenue losses that occur when brick-and- mortar casinos are closed. We look forward to working more closely with our iGaming operators as we bring our existing library and our pipeline of new products online.”
Galaxy expands European footprint in France and Switzerland
21+3, the world’s number-one side bet, has received regulatory approval in France, with the 21+3 additional ‘Top 3’ side bet also going live in Switzerland for the first time. Galaxy’s Gavin Wright and distribution partner LGS have quickly placed a number of the blackjack side bets in French and Swiss casinos. “Both France and Switzerland are key markets for 21+3 and Galaxy Gaming. While we have great strength in the UK, our goals are to service customers throughout Europe with great
products for their players,” stated Galaxy’s Gavin Wright. “Growth in Europe will continue to be a focus for Galaxy Gaming. France and Switzerland are just the start. We hope to bring our products to casinos throughout the continent this year and beyond. Our titles continue to do very well in the European iGaming segment, and we feel our products will be received well in land-based casinos as well,” stated Galaxy Gaming CEO Todd Cravens.
Galaxy announces acquisition of Baccarat Fightback
In July, Galaxy Gaming acquired Baccarat Fightback from Tiange Xu of the UNLV Center for Gaming Innovation. The game’s strong performance at the 2019 UNLV Gaming Innovation Showcase set the stage for the company’s newest acquisition to make a big splash on the Baccarat scene and the gaming industry. Baccarat Fightback features a never-before-seen feature that enhances the whole look and feel of Baccarat, while leaving the base game untouched. This acquisition boosts Galaxy’s
portfolio of Asian-style offerings and adds to the growing list of new, cross-platform content ideal for iGaming and traditional land-based venues. Baccart Fightback’s creator, Tiange Xu, is
a fi rst-year masters student at UNLV and holds a bachelor’s degree in Hospitality and Casino Management from the University of Macau. Prior to his studies at UNLV, Tiange worked in the casino industry in Macau, Cambodia, and the Northern Mariana Islands. The experience he gained played a
pivotal role in his game’s design. Tiange Xu said: “Thanks to the UNLV
Center for Gaming Innovation and Galaxy Gaming, my dream has come true. When I went to a casino for the first time, I told myself I wanted to have my own game on the floor one day. Now, that is going to happen. Baccarat Fightback introduces a new way of playing Baccarat, bringing more fun and excitement to players. I firmly believe it will stand out among other Baccarat variants.”
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