Galaxy Gaming Inc (OTCMKTS:GLXZ) shot up Wednesday after it announced it secured a manufacturer’s license from the Alcohol and Gaming Commission of Ontario (AGCO).
The Canadian regulator’s nod will allow the Las Vegas, Nevada-based company to supply its popular casino table games, electronic table games, and wagering systems to customers in Ontario. Founded in 2006, Galaxy Gaming markets its games to customers in North America and to cruise ships.
Investors reacted positively to the news and sent Galaxy Gaming shares up nearly 10% to $1.84 in afternoon trade, despite a broader market pullback.
“We are thrilled to offer our full line of products to our Ontario customers,” Galaxy Gaming CEO Todd Cravens said in a statement. “This is an exciting market for Galaxy, and we look forward to expanding our games and proprietary Progressive System with our friends in Ontario.”
Cravens has over 25 years of experience in the amusement and gaming industries and has held executive positions at American Gaming Systems and Betson Enterprises.
Galaxy Gaming has an installed base of its products on over 5,000 gaming tables located in over 600 casinos. It owns over 20 different table games, including 21+3, Two-way Hold'em and Three Card Poker, which are played in over 250 casinos. Its premium games include High Card Flush, Three Card Poker and Texas Shootout.
In synch with the Internet age, Galaxy’s games can also be played online at FeelTheRush.com.
Contact Uttara Choudhury at [email protected]