Galaxy Gaming names Matt Reback as president and CEO
Reback will join Galaxy on November 13.
US.- Galaxy Gaming has announced that its board of directors has appointed Matt Reback as the company’s president and chief executive officer. Reback will join Galaxy on November 13.
Reback was founder and president of Bravery Gaming. He has also held senior management positions in product management, sales, marketing, and operations with AGS, Konami Gaming, Red Rock Casinos (formerly Station Casinos) and Caesars Entertainment.
Mark Lipparelli, chairman of Galaxy’s board of directors, said: “We are excited to welcome Matt as the company’s new president and CEO. The Board carefully considered this change, examined multiple candidates, and ultimately believed it was the right decision to bring a new perspective into the Company as we embark on our next phase of growth.
“Matt brings to Galaxy a combination of 20 years of leadership skills acquired in the gaming industry from both operator and technology companies. On a positive note, we are making this change with a solid foundation intact, and we are well-positioned going into the 2024 fiscal year.”
Reback commented: “I am looking forward to joining the Galaxy team and continuing what has been a great story in the gaming industry. I intend to quickly get up to speed and make sure our 2023 year-end goals and 2024 plans remain on track, while also taking a fresh look at our opportunities. There is a team of talented people at Galaxy who have demonstrated their ability to compete effectively against companies with more resources as well as their success forming strong industry partnerships. I expect that one of my goals with the Board will be to build on those successes.”
Galaxy Gaming has signed a licensing agreement with game developer Konquer to distribute titles such as Daredevil Poker, Emperor’s Challenge Exposed, High Card Flush, and High Hand Blackjack in the North American market. Konquer was founded by the architects of many of DraftKings’ casino games, CEO Ashford Kneitel and CTO Aditya Singh.
Galaxy Gaming revenue increases 33% in Q2 2023
Galaxy Gaming has announced its financial results for the second quarter and the six months ended June 30, 2023. Revenue for both periods increased by more than 25 per cent. Q2 revenue reached $7.5m, up 33 per cent from Q2 2022. Adjusted EBITDA increased by 36 per cent. Galaxy reported net income of $467,463 compared to a net loss of $1.1m in the same quarter last year.
For the first six months, revenue totalled $14.9m, up 29 per cent year-over-year. Galaxy reported adjusted EBITDA of $6.3m, an increase of 25 per cent when compared to H1 2022.
