Gambling in the USA

Galaxy Gaming Agrees to Purchase Progressive Games Partners Deal Gives Galaxy Direct Control over iGaming Activities

Published

5 years ago

February 27, 2020

Galaxy Gaming Announces New Games, Solutions, and Big iGaming Numbers

Galaxy Gaming, Inc. announced that it has entered into an agreement to acquire 100% of the equity interests in Progressive Games Partners LLC. PGP owns the exclusive worldwide online rights to a comprehensive suite of proprietary casino table games. Since signing its first license agreement with Cryptologic in 2003, PGP has developed close working relationships with the leading online operators and platform providers across the western world. An integral part of PGP’s success has been founded upon its exclusive online distribution rights for Galaxy’s gaming content, as well as other world-renowned games such as Perfect Pairs and Caribbean Stud Poker through its other licensors.

Pursuant to the Purchase Agreement, Galaxy will pay $12.425 million to acquire all of the equity interests in PGP. Of the consideration, at least $6.425 million but no more than $10.425 million will be paid in cash; any amounts not paid in cash will be paid in newly issued shares of Galaxy’s common stock valued at $1.91 per share.

Galaxy expects that the acquisition of PGP will be accretive to earnings per share upon closing.

This transaction will enable Galaxy to more efficiently and effectively exploit the opportunity provided by the rapidly expanding online casino market in the US by both building on our many close relationships with casino groups who are expanding their sphere of operations online, and by gaining exposure to new markets and opportunities through our newly acquired online clientele.

Completion of the transaction is subject to certain conditions, including regulatory approvals.

Executive Comments:

“We see online gaming as a key development and expansion area for our business and believe that our great table games will be received well as more and more markets open iGaming,” said Todd Cravens, Galaxy’s President and CEO. “This transaction positions us in several ways to control our own destiny in online gaming. First, we get direct relationships with the major online players. Second, we get full control of how our own content – and the content we get from others – is licensed to those operators. And we are taking all these steps as online gaming is expanding across the United States. We’re excited to by this opportunity and challenge.”

“Galaxy’s games have been our most important revenue producers,” stated Chris Reynolds, PGP’s CEO. “I have no doubt that those games will continue to enjoy great popularity and success in the regulated online gaming markets, and we are already developing our strategy and relationships to ensure that they will be well positioned to participate in the expanding US market. I look forward to working with Todd and the Galaxy team to continue as one entity the success we have had separately.”

Up Next

BetMGM Launches Sports Betting App in Indiana

Don't Miss

William Hill Secures Market Access in Michigan Through Partnership with GTB

Stake - Best Online Casino & Sports Betting Platform

Gambling in the USA

Gila River Resorts & Casinos hosts $5.9 million Big Game prop play contest

Published

1 week ago

January 24, 2025

Adrienn Sarkany

To celebrate the Big Game, Gila River Resorts & Casinos is offering one lucky player the chance to win a $5.9 million prize by correctly predicting the outcome of 26 Big Game prop plays through its $5.9 Million Prop Play Contest.

“Nobody does full gaming entertainment like Gila River Resorts & Casinos, and we’re proving it with an unprecedented chance to win $5.9 million,” said Dominic Orozco, President and Chief Marketing Officer, Gila River Resorts & Casinos. “As a sports-centric gaming brand, we’re not just offering the largest casino sportsbook in the state—we’re delivering a complete Las Vegas-style entertainment experience across four incredible properties. This isn’t just another game day promotion; this is our way of making the Big Game bigger and better for everyone. Let’s make history together.”

In addition to traditional game predictions, the 26 prop plays span the entire Big Game experience. From predicting which team will win the coin toss to the game MVP, the contest brings an immersive way to engage with the game. In addition to the $5.9 million jackpot prize, there will be lower-tier prizes and other instant win opportunities.

Players can enter the contest by completing a prop card online and activating it at any Gila River Resorts & Casinos property. Entry is free; players will need to provide their full name, email and date of birth. Guests must be 21 or older to play. Entries and activations will be accepted from Jan. 27 to Feb. 8 at 11:59 p.m. The winner(s) will be announced on Monday, Feb. 10.

Gambling in the USA

Spinomenal makes US debut with New Jersey market entry

Published

1 week ago

January 24, 2025

Adrienn Sarkany

Spinomenal, the leading iGaming content provider, has made its US debut after launching an exciting collaboration with a leading operator in the state of New Jersey, and is anticipating many more valuable collaborations with top tier online casinos.

Following impressive growth rates, Spinomenal is making a major move into the New Jersey iGaming market, marking a key step in its global expansion. By entering this crucial U.S. region, Spinomenal will bring its innovative games to a new audience, strengthening its presence and leadership in the iGaming industry.

Spinomenal’s specially selected titles will be going live via Pariplay’s Fusion aggregation platform in the New Jersey market. Some of the outstanding titles being made available for NJ players are Demi Gods II, Majestic Wild Buffalo and Kitsune’s Scrolls.

This marks a major milestone in Spinomenal’s strategic expansion plan, as this debut establishes the company’s initial presence within the New Jersey market, with further growth anticipated across the US iGaming ecosystem. This move underscores Spinomenal’s commitment to expanding its global footprint and further solidifying its position as a leader in the online casino industry.

Lior Shvartz, CEO for Spinomenal commented: “After a decade of establishing and positioning Spinomenal as a leading provider in the iGaming industry, we have now taken a big leap and will provide our exciting content to the esteemed New Jersey audience. We are highly optimistic about entering this prominent market, following the process of obtaining approval from the DGE.”

Gambling in the USA

Mechoopda Casino to Suspend Operations Effective January 31, 2025

Published

1 week ago

January 23, 2025

Niji Narayan

The Mechoopda Indian Tribe has announced that the Mechoopda Economic Gaming Authority (MEGA) Board has made the decision to suspend operations at Mechoopda Casino. The final day of operations will be Friday, January 31, 2025.

The Mechoopda Casino says this decision comes after months of deliberation and efforts to address the various challenges affecting the casino’s operations.

Dennis Ramirez, Tribal Chairman of the Mechoopda Indian Tribe, said: “Suspending operations at the Casino is a heart-wrenching decision that affects not only our Tribe but also our valued employees, customers, and the surrounding community. While this chapter is closing, our commitment to the Casino’s long-term vision remains steadfast. For over 25 years, this project has been a cornerstone of our economic development goals, and we will continue to work toward its future reopening.”

The Tribe is taking steps to support both its employees and community partners during this transition period:

Employee Support: The Tribe is committed to offering resources and guidance to assist team members through this difficult time.

Remaining Open Until January 31: The Casino will remain open through its final day of operation, giving guests the opportunity to enjoy the remaining days of service.