Galaxy sees Q1 revenue fall 15.9% amid Covid-19 closures
Table games supplier Galaxy Gaming has reported a 15.9% year-on-year decline in revenue for the first quarter of 2020, primarily due to the closure of land-based casinos as a result of the novel coronavirus (Covid-19) pandemic.
Revenue for the three months through to March 31 amounted to $4.5m (£3.7m/€4.0m), down from $5.3m in the same period last year.
The land-based supplier put this drop mainly down to the closure of the majority of its customers’ casinos in regions around the world from mid-March due to the Covid-19 crisis.
Galaxy on March 17 suspended billing to customers that had closed their doors due to the outbreak, and, as a result, the supplier did not earn revenue for the use of its games by physical casino customers during the time that they were closed.