Galaxy sees Q1 revenue fall 15.9% amid Covid-19 closures

29 June 2020

Table games supplier Galaxy Gaming has reported a 15.9% year-on-year decline in revenue for the first quarter of 2020, primarily due to the closure of land-based casinos as a result of the novel coronavirus (Covid-19) pandemic.

Revenue for the three months through to March 31 amounted to $4.5m (£3.7m/€4.0m), down from $5.3m in the same period last year.

The land-based supplier put this drop mainly down to the closure of the majority of its customers’ casinos in regions around the world from mid-March due to the Covid-19 crisis.

Galaxy on March 17 suspended billing to customers that had closed their doors due to the outbreak, and, as a result, the supplier did not earn revenue for the use of its games by physical casino customers during the time that they were closed.

Read the full story on iGB North America.