Matt Reback has been appointed as the new president and chief executive of Galaxy Gaming, effective from November 13th. Reback comes to Galaxy Gaming from Bravery Gaming, where he has been serving as president since February 2022. His previous experience includes senior management roles at AGS, Konami Gaming, Red Rock Casinos (formerly Station Casinos), and Caesars Entertainment, covering product management, sales, marketing, and operations.
Reback takes over from Todd Cravens, who has been president and CEO of Galaxy Gaming since mid-2017. There will be a brief transition period with Cravens, and the chief financial officer, Harry Hagerty, will step in on an interim basis if necessary. Reback expressed his excitement about joining the Galaxy team and ensuring that the company meets its 2023 goals and stays on track for its 2024 plans.
Galaxy Gaming chairman Mark Lipparelli also welcomed Reback’s appointment, noting that his 20 years of leadership skills in the gaming industry make him an excellent fit for the company’s next phase of growth. Lipparelli thanked Cravens for his contributions to Galaxy Gaming over the past six years and wished him well in his future endeavors.
The announcement of Reback’s appointment comes ahead of Galaxy Gaming reporting its Q3 financial results. The company expects to post revenue of $6.1 million and adjusted EBITDA of $1.5 million for the three months ending on September 30th. Galaxy Gaming attributes the lower revenue from perpetual license sales to increased allowance for doubtful accounts and significant legal expenses related to intellectual property registrations worldwide. Looking ahead to Q4, the company anticipates revenue between $7.0 million and $7.5 million and adjusted EBITDA of $2.8 million to $3.2 million.
Galaxy Gaming intends to release its Q3 results on November 13th. With Reback at the helm, the company looks to continue its success and explore new opportunities in the gaming industry.