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Galaxy Gaming, Inc. (OTCQB:GLXZ), a $73.35 million market cap gaming company, reported Monday that the deadline for its pending merger with Evolution Malta Holding Limited has been automatically extended to October 18, 2025, according to a statement based on its latest SEC filing. According to InvestingPro data, the company maintains healthy liquidity with a current ratio of 1.55, indicating strong short-term financial stability.
The extension follows the original outside date of July 18, 2025, set in the merger agreement between Galaxy Gaming, Evolution, and Galaga Merger Sub, Inc., a wholly owned subsidiary of Evolution. Under the terms of the agreement, the deadline is automatically extended if all conditions to close the merger have been met except for certain legal or regulatory approvals, specifically those related to gaming regulatory requirements.
As of July 18, 2025, all closing conditions for the merger had been satisfied or waived except for the receipt of required gaming regulatory approvals. As a result, the merger deadline was automatically pushed forward by three months.
Galaxy Gaming and Evolution stated they continue to work with gaming regulators to secure the necessary approvals. The companies indicated that they expect the closing to occur in the second half of 2025, provided all closing conditions are met. Despite merger uncertainties, Galaxy Gaming has demonstrated resilient performance with 11.12% revenue growth in the last twelve months.
The merger agreement also allows for a further extension to January 18, 2026, if by October 18, 2025, all conditions other than legal constraints and gaming regulatory approvals remain outstanding.
Galaxy Gaming’s common stock is traded on the OTCQB Marketplace under the symbol GLXZ. The company is based in Las Vegas, Nevada.
This update is based on a press release statement filed with the SEC.
In other recent news, Galaxy Gaming, Inc. has appointed a new auditor following a merger between Moss Adams LLP and Baker Tilly US, LLP. As of June 3, 2025, the combined audit practices will operate under the Baker Tilly name. Due to this merger, Moss Adams has resigned as the auditor for Galaxy Gaming, and the company’s Audit Committee has approved Baker Tilly as the new independent registered public accounting firm. The audit reports from Moss Adams for the years ending December 31, 2024, and 2023, were issued without adverse opinions or disclaimers. These reports were also not qualified in terms of uncertainty, audit scope, or accounting principles. This change in auditors is a recent development for Galaxy Gaming. The transition to Baker Tilly is part of the company’s ongoing efforts to maintain transparency and compliance in its financial reporting.
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