

Canada
Galaxy Gaming Reports Q4 and Full Year 2020 Results
Galaxy Gaming has announced its financial results for the quarter and fiscal year ended December 31, 2020.
Financial Highlights
Q4 2020 vs. Q4 2019
- Revenue decreased 37% to $3274K
- Adjusted EBITDA decreased 41% to $1261K
- Net income of $1179K vs. net income of $848K
Full Year 2020 vs. Full Year 2019
- Revenue decreased 52% to $10,230K
- Adjusted EBITDA decreased 84% to $1377K
- Net loss of $(2209)K vs. net income of $2943K
Balance Sheet Changes (vs. December 31, 2019)
- Cash decreased 38% to $5993K
- Total long-term liabilities (gross) increased $4033K to $52,015K
- Stockholders’ deficit decreased to $(24,797)K
Executive Comments
Todd Cravens, President and CEO of Galaxy Gaming, said: “2020 imposed great stresses on our industry, and Galaxy was not immune. However, I think we turned some of those stresses to our advantage. We were able to accommodate our clients during their closures and provide timely service to help them reopen, earning very high net promoter scores in an especially challenging time. From a product perspective, we used the downtime to develop new games and a new technology platform, and we will be launching these in 2021 as they are approved by our regulators. Finally, and most significantly, our acquisition of PGP in August made iGaming a much more important part of our business. We expect iGaming to be one of the major growth areas going forward, and we are well-positioned to benefit from those trends.”
Harry Hagerty, CFO of Galaxy Gaming, said: “Our motto in the pandemic was ‘Survive then Thrive.’ And thanks to the great cooperation and assistance from our friends at Nevada State Bank and the availability of certain government relief programs, we came through 2020 intact. We hope that the first half of 2021 will mark the end of the Survive phase and that the great things that Todd mentioned in his comments will allow us to start Thriving in the second half of 2021 and accelerating into 2022.”
Alcohol and Gaming Commission of Ontario
Fennica Gaming Granted Supplier License for Ontario Market

Fennica Gaming has announced that it has been granted a gaming supplier license in Ontario, Canada. This milestone marks a significant step in the company’s expansion strategy, allowing it to offer its cutting-edge gaming experiences to gaming operators in one of North America’s most dynamic regulated markets.
The supplier license, granted by the Alcohol and Gaming Commission of Ontario (AGCO), enables Fennica Gaming to introduce its portfolio of entertaining and high-quality games to gaming operators across the province. This registration empowers Ontarian operators, whether online or land-based, to access the omnichannel offerings developed in the Nordics.
“We are thrilled to receive our B2B supplier license in Ontario and to offer our advanced gaming solutions to operators in the region. After a thorough application process, we can now proudly and prominently display our registration and achievement. We have followed the market in North America for a long time and Ontario is an excellent example of market that is well organized. It represents an exciting market with immense potential, and we are committed to delivering secure, entertaining, and trustworthy gaming experiences tailored to local preferences,” Timo Kiiskinen, Managing Director of Fennica Gaming, said.
Fennica Gaming’s Nordic gaming experience and heritage as an omni-channel gaming operator through its parent company Veikkaus offers a broad range of entertainment for Ontarian operators with a player-first attitude. This registration supports Fennica Gaming’s commitment to a sustainable industry, enabling operation in compliance with Ontario’s local regulatory framework.
The post Fennica Gaming Granted Supplier License for Ontario Market appeared first on Gaming and Gambling Industry in the Americas.
Canada
GeoComply welcomes Kip Levin as CEO, driving customer-focused innovation and growth

GeoComply, the global leader in geolocation security and fraud prevention, today announced the appointment of Kip Levin as its new Chief Executive Officer, effective Tuesday, March 4th. This strategic move reinforces GeoComply’s commitment to delivering cutting-edge solutions and driving success for its customers.
Kip Levin brings a wealth of experience to GeoComply, having served in various senior leadership roles at Flutter Entertainment over the past decade including CEO of the US business and President of FanDuel. Prior to that he spent 12 years at Ticketmaster where he led the product and ecommerce teams and oversaw the company’s expansion into mobile and resale. His proven track record in driving growth and innovation within dynamic, technology-driven markets positions him to enhance GeoComply’s ability to serve its customers.
This transition allows co-founder Anna Sainsbury to step into the role of Executive Chairman, where she will focus on strategic vision and governance, ensuring GeoComply continues to anticipate and meet the evolving needs of its customers. Co-founder David Briggs will shift his focus to Product and Innovation, leveraging his expertise to drive cutting-edge solutions as he moves from his previous role as CPTO.
“We are thrilled to welcome Kip Levin to GeoComply,” said Anna Sainsbury, Executive Chairman. “His extensive experience and strategic vision are perfectly aligned with our commitment to delivering exceptional value to our customers. I am confident that under his leadership, GeoComply will continue to innovate and expand its global footprint, ensuring we remain at the forefront of geolocation security and fraud prevention. This transition enables me to dedicate more time to our long-term strategic direction, focusing on how we can better serve our partners.”
Kip Levin expressed his enthusiasm for joining GeoComply, stating, “I am incredibly excited to join GeoComply, a company with a strong reputation for innovation and a commitment to customer success. The opportunities in this space are immense, and I look forward to working with Anna, David, and the entire GeoComply team to build on the company’s success and drive further growth for our clients. My experience in scaling businesses and driving product innovation will be instrumental as we navigate the evolving landscape of geolocation technology, ensuring we provide our customers with the most reliable and effective solutions.”
David Briggs, focusing on Product and Innovation, added, “With Kip joining us, I am eager to dedicate my full attention to driving innovation and developing groundbreaking solutions that directly address our customers’ challenges. This is an exciting time for GeoComply, and I am confident that our combined expertise will enable us to deliver even greater value to our clients, strengthening our partnerships.”
GeoComply is poised for continued success as it leverages Kip Levin’s leadership and the founders’ renewed focus on strategic vision and innovation. The company remains committed to providing its clients with the most reliable and advanced geolocation security and fraud prevention solutions, acting as a trusted partner in their success.
The post GeoComply welcomes Kip Levin as CEO, driving customer-focused innovation and growth appeared first on Gaming and Gambling Industry in the Americas.
BCLC
BCLC Reminds Public to be Cautious of Illegal Online Casino Scams

BCLC has reminded the public to be cautious of a series of social media scams that imitate B.C. casinos and trick individuals into providing their financial details on illegitimate websites.
Highly deceptive, these scams share fraudulent posts and advertisements exploiting the logos, names, and exterior images of local B.C. casinos, and may claim to offer players exclusive bonuses and promotions if they register with their website or mobile application. BCLC warns that none of these sites are associated with casinos in B.C. or BCLC.
PlayNow.com is the only online gambling website permitted to operate in B.C. BCLC’s official apps are BCLC Lotto!, PlayNow Poker BC, and PlayNow BC Sportsbook. All BCLC-operated social media accounts, such as BCLC, PlayNow BC, PlayNow Sports, Lotto BC and Casinos BC, are verified with a checkmark.
While BCLC and its casino partners continue to work on having the posts removed, British Columbians should stay vigilant when it comes to these predatory and sophisticated scams.
To protect themselves, individuals are encouraged to:
• Be on alert when a website or app asks for personal or financial information. BCLC’s verified websites and apps will never ask for your social insurance number (SIN), banking information or credit card details online to claim a prize from a B.C. casino.
• Carefully check the URL and domain of the website to verify its legitimacy. Often, scammers will use a similar URL and domain to legitimate websites with a minor spelling difference.
• Always verify the company and its services are real before providing any personal information.
• Look out for other red flags, such as the suggestion of fees or taxes to be paid on a prize. There are no fees or taxes on prizes won in Canada.
If individuals feel unsure about an account, post or advertisement claiming to represent a B.C. casino, they can contact BCLC directly by calling the Customer Support Centre at 1-866-815-0222, or using the live chat resource on corporate.bclc.com or PlayNow.com.
The post BCLC Reminds Public to be Cautious of Illegal Online Casino Scams appeared first on Gaming and Gambling Industry in the Americas.
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