Gaming firm Gaming Galaxy has announced that their gaming revenues fell 87.8% during the second quarter, slipping to just $664,000 during the quarter and warning investors of potential rough waters ahead.
The company said that virtually all land casino revenue was wiped out, and that any money trickling in came through the iGaming sector. The vast majority of the money coming in came from Europe, Africa, and the Middle East.
Galaxy CEO Todd Cravens spoke about the situation, noting: “The second quarter of 2020 was painful for everyone in the global casino industry. We earned virtually no revenue from our land-based clients, almost all of whom were shut for the entire quarter. We used the time to develop new games and technologies that we hope to introduce later this year.”
We’ll be sure to keep an eye on Galaxy’s operations and let readers know as their financial outlook changes.