Recent Updates — GLXZ
Galaxy Gaming appointed John M. Boushy as a Class II Director effective October 21, 2026, succeeding Meredith Brill who resigned from the Board and audit committee on October 20. The resignation is not due to any dispute. Mr. Boushy brings over 45 years of experience in gaming and hospitality, including former CEO roles at Ameristar Casinos and senior positions at Harrah’s Entertainment. He will receive standard non-employee director compensation under a new service agreement. Galaxy Gaming develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide.
Galaxy Gaming reported second-quarter 2026 total revenue of $7,938k, a 5.5% increase from the prior-year quarter, driven by an 8.5% rise in recurring revenue to $7,887k. Net income grew 4.9% to $997k, and Adjusted EBITDA increased 10.9% to $3,548k with a margin of 44.7%. The company also disclosed subsequent capital allocation actions: the Board authorized a $4.0M share repurchase program on July 22, 2026; the Company repurchased 330,758 shares for approximately $0.5M on July 31; and it cancelled all 778,320 outstanding Fortress warrants for roughly $1.2M on August 12, reducing the diluted share count by 4.2%. Approximately $2.3M remains available under the authorization. Galaxy Gaming is a pure-play table games supplier operating in land-based casinos and online iGaming channels.
Galaxy Gaming, Inc. entered into a Second Amendment to its Credit Agreement with BMO Bank N.A. on September 23, 2026. The amendment increases the annual capital expenditure limitation for the Company and its subsidiaries to no more than ten percent of the prior year’s net revenue per annum. Additionally, it approves a one-time EBITDA addback of $505,361.00 solely for determining compliance with certain financial ratios in the Credit Agreement. Galaxy Gaming, Inc. operates in the gaming industry, providing table games and related services.
Galaxy Gaming, Inc. entered into an Amended and Restated Employment Agreement with President and CEO Matt Reback, effective September 1, 2026. The agreement extends his term through May 31, 2029, establishing a base salary of $367,500 for the period ending August 31, 2027, increasing to $385,000 thereafter. Reback is eligible for an annual discretionary bonus targeting 75% of his base salary and received a stock option grant for 150,000 shares at a strike price of $1.656, vesting in equal tranches on September 1 of each year from 2027 to 2029. Additionally, he holds a conditional grant of 150,000 restricted stock shares contingent on performance metrics concluding December 31, 2028. The company operates in the gaming technology industry, providing table game management systems and services.
Galaxy Gaming, Inc. entered into an Amended and Restated Employment Agreement with CFO Steven Kopjo on September 8, 2026, effective September 1, 2026. The agreement extends his term through February 28, 2029, setting a base salary of $262,500 for the year ending August 31, 2027, and $275,000 thereafter. Kopjo is eligible for an annual discretionary bonus targeting 75% of his base salary. The deal includes a stock option grant for 120,000 shares at a strike price of $1.656, vesting in three equal tranches on July 25 of each year from 2027 to 2029, plus a conditional restricted stock award of 100,000 shares contingent on performance metrics through December 31, 2028. The company operates in the gaming industry, providing table games and systems for casinos.
Galaxy Gaming, Inc. cancelled all outstanding warrants to purchase an aggregate of 778,320 shares by paying approximately $1.2 million in cash to affiliates of Fortress Credit Corp. The cancellation eliminates roughly 3% of the company's fully diluted share count and simplifies its capital structure. This transaction was applied against a $4.0 million share repurchase authorization adopted on July 22, 2026, leaving approximately $2.3 million available under the program following a prior private repurchase. Galaxy Gaming develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide.