Supplier News
US – Galaxy tables revenue growth of 14 per cent
By Phil - 30 August 2016
Galaxy Gaming, who claims to be the world’s largest independent developer, manufacturer and distributor of casino table games and enhanced systems, saw a 14 per cent revenue increase in its results for the three and six months ended June 30, 2016.
Total revenue for the second quarter 2016 increased 14 per cent to $3,064,171, over the same quarter 2015. This increase is primarily due to additional placement of premium games and expansion into new territories. Between the second quarter 2016 and first quarter 2016, total revenues increased three per cent to $3,064,171. This increase was recognized in all categories of products, with premium games netting the largest gains.
Robert Saucier, Galaxy’s CEO, said: “The seeds for growth we previously sowed are now being harvested. As evidenced by this record-breaking quarter, our core business continues to build, thus enhancing our ultra-high margin recurring revenue stream. This performance allows us to continue to pay down our long-term debt whilst reinvesting for further growth. At this halfway point, we remain convinced that 2016 will be our best year ever.
Mr. Saucier continued: “It is also evident from these numbers that our business model is extremely scalable. For example, the 15 per cent increase in year-to-date revenues resulted in a 463 per cent increase in net income. Another way to look at it is that of the $781K additional revenue realised in the first half of 2016, 80 per cent of those dollars dropped to the bottom line.”
