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,” stated Mark Lipparelli, Chairman of Galaxy’s Board of Directors. “We are excited to welcome Matt as the Company’s new President and CEO. The Company’s Board of Directors has appointed Matt Reback, who will join Galaxy on November 13, 2023. (OTCQB: GLXZ) (“Galaxy” or the “Company”), a developer and distributor of casino table games and enhanced systems for land-based casinos and iGaming, announced today that its Board of Directors has appointed a new President and Chief Executive Officer of the Company. 06, 2023 (GLOBE NEWSWIRE) - Galaxy Gaming, Inc. Actual reported results may differ from the estimates provided.
Significant legal expenses were incurred for intellectual property registrations.The Company faced financial difficulties with a single customer, leading to an increase in the allowance for doubtful accounts.Revenues from perpetual license sales in Q3 2023 were approximately $1 million lower than previous quarters.
