Galaxy Gaming posts quarterly profit, will file for Nevada license

16 August 2013

Galaxy Gaming Inc. on Thursday posted a modest quarterly profit as the company continues to do business in California despite the state’s gaming commission upholding a judge’s ruling that its chief executive is unsuitable to do business there.

Galaxy reported second-quarter net income of $85,000, or zero cents a share, compared with $62,000, or zero cents a share, for the same period last year.

Revenue was $1.94 million, compared with $1.79 million in the second quarter of 2012.

“In a difficult environment and uncertain economic times, we continue to grow, lead and innovate,” Robert Saucier, CEO of Las Vegas-based Galaxy, said.

Galaxy shares closed unchanged at 27 cents on the OTC market.

The company manufacturers table games, including side bets that can be played with such games as blackjack. Galaxy also distributes TableMax, an automated table game that offers blackjack without a dealer.

The four-member California Gambling Control Commission on July 11 upheld an administrative law judge’s ruling describing Saucier as unsuitable to do business in California.

In a conference call Thursday, Saucier said Galaxy has been as “transparent as we can be in this manner.” He described some of the information being released as “inconsistent” and “inaccurate.”

“The state can investigate and determine suitability, but we are licensed by individual tribes (in California),” Saucier said.

He said the commission’s findings do “complicate things” in California for Galaxy. But the company has only faced revocation of its license from two tribes.

Saucier said the company lost some $11,770 in quarterly revenue in California, where it earns 3 percent of its revenues.

“We expect to continue to do business with (California) tribes,” Saucier said. “We are also keeping other states and companies up to date. There has been no negative fallout in any other jurisdiction.”

Saucier said Galaxy Gaming next week will file an application for a nonrestricted gaming license in Nevada. In July, the Nevada Gaming Commission and Control Board determined the need for Galaxy to apply for a Nevada license.

The recommendation made in April to the California Gaming Commission was the result of a three-year investigation of his business license applications.

Saucier was accused of withholding or misstating crucial information to state officials about his past, including his schooling, criminal record, business dealings and lawsuits. He denied the allegations against him.

According to Galaxy’s earnings report, the company and Saucier filed a petition Aug. 9 with Sacramento County Superior Court, asking the court to find Galaxy Gaming of California LLC and Saucier suitable. Saucier expects a decision in four to six months.

Related Links
Galaxy Gaming Gaming Vendor Information
Nevada Gaming Commission and Control Board Gaming Vendor Information


Copyright GamingWire. All rights reserved.
Featured Vendors
Casino City Press
Talisman Group Creators of EZ Baccarat
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Casino Schedule Ease
.Dot-iGaming.com
Casino Schedule Ease
Get a 90-Day Free Trial of 100% contactless, customizable table game & full casino scheduling
.Dot-iGaming.com
Fully loaded advanced casino platform. One time (low) fee, 100% your property, start now!
Kallop
Plastic Card ID
Kallop
Reward every play like a VIP with exclusive luxury brands at affordable prices.
Plastic Card ID
The World’s Lowest Prices on Printed Plastic Cards and Card Printers!
Slot Machines Unlimited
Imagine This
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
TDN Money Systems
Broadband Hospitality
TDN Money Systems
Cage, cash/chip handling experts representing CountR, ARCA, AccuCASH, Fujitsu & NCR
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
TOP ONE TECH LIMITED
Casino Network
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Sunkist Graphics, Inc.
Global Gaming Expo (G2E)
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Oklahoma Indian Gaming Association (OIGA) Conference
Betson Imperial Parts & Service
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 9-11, 2022 in Tulsa!
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Rymax Marketing Services, Inc.
AmericanChecked
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions


Your Guide to 15,357 Gaming Industry Suppliers