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Galaxy Secures $4 Million Loan

Galaxy Secures $4 Million Loan

Galaxy Gaming, a supplier of table games and side-bet bonusing systems, announced that it has received a loan of $4 million from Zions Bancorporation, dba Nevada State Bank, to ease revenue challenges brought on by the Covid-19 pandemic.

“Our iGaming business remains robust, but the land-based casino industry in the second and third quarters of this year varied widely by geography,” said Galaxy President and CEO Todd Cravens. “New restrictions have just been announced in the U.K., as well as other domestic markets. These Main Street funds increase our ability to ride out any short-term downturns that might result from regional efforts to fight the pandemic.”

The loan is funded by Nevada State Bank and the Main Street Priority Loan Program that was enacted as part of the CARES Act in March 2020.