The coronavirus epidemic has led Galaxy Gaming in Las Vegas, the supplier of casino table games and systems, to withhold billing its customers whose casinos are closed for the duration of the emergency.
The company said that it had sufficient cash on hand to continue to pay its employees through the duration of the casino closures and it also has $1m on its revolving credit facility available to it.
The news came as part of Galaxy’s preliminary estimated results for the year ended December 31 in which it expects to report revenues of around $21.3m and adjusting EBITDA of $8.8m. The figures compare with $18.6m in revenue an $6.6m in adjusted EBITDA for the comparable year.
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