Galaxy Gaming closes acquisition of Progressive Games Partners

24 August 2020

(PRESS RELEASE) -- Galaxy Gaming, Inc., a developer and distributor of casino table games and enhanced systems, announced today that it has closed its previously announced acquisition of all of the equity interests in Progressive Games Partners LLC. PGP 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 of the leading iGaming providers. The transaction is strategically advantageous to Galaxy as it increases the Company’s exposure to the iGaming market, which is forecasted to see significant growth, especially in the U.S. The transaction is also attractive financially 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 significant beneficiary 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 has a great opportunity with the acquisition of PGP,” said Chris Reynolds, who has been at the helm as PGP’s CEO since its inception. “Many of the titles that are in the PGP portfolio originated in the US land-based world. Since US iGaming operators will want to offer to their online patrons many of the same games that are popular in the physical world, there should be good adoption of the PGP content in the US. I look forward to working with Todd and the rest of the Galaxy team in serving the rapidly growing US iGaming market while maintaining the strong relationships we have in the UK and Europe.”

Related Links
Galaxy Gaming Gaming Vendor Information

Featured Vendors
Oklahoma Indian Gaming Association (OIGA) Conference
Goldfinger Monitors
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 14-16, 2023 in Tulsa!
Goldfinger Monitors
Innovative touch-screen solutions - vibrant lighting, high-def imagery, bright, bold colors
TOP ONE TECH LIMITED
TribalHub
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
TribalHub
24th Annual TribalNet Conference Sept 18-21, 2023 Town & Country Resort, San Diego, CA
Casino Schedule Ease
Casino Trac - Table Trac, Inc.
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
Casino Trac - Table Trac, Inc.
CasinoTrac™ is a full CMS platform, operating in 225 locations, across 13 countries, since 1995.
AmericanChecked
New Level Radio
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
New Level Radio
Your Casino. Your Music. Your Message.
Casino City Press
Sunkist Graphics, Inc.
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Betson Imperial Parts & Service
Acres Manufacturing
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Acres Manufacturing
Cashless Loyalty & Bonusing in a Single Mobile App
Talisman Group Creators of EZ Baccarat
Slot Machines Unlimited
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Casino Network
Patriot Gaming & Electronics, Inc.
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Patriot Gaming & Electronics, Inc.
Patriot Gaming…Parts is what we do. Visit us: www.patriotgaming.com


Your Guide to 15,264 Gaming Industry Suppliers