Galaxy Gaming Amends Credit Agreement, Adds $505K EBITDA Addback

What Happened

• Galaxy Gaming, Inc. (GLXZ) filed an 8-K disclosing a Second Amendment to its Credit Agreement with BMO Bank N.A., dated September 23, 2026. The original Credit Agreement was dated January 6, 2025 and had been previously amended on July 24, 2026.
• The Second Amendment increases the company’s annual capital expenditure limitation and grants a one-time EBITDA addback of $505,361 solely for determining compliance with certain financial ratios in the Credit Agreement.

Key Details

• Parties: Galaxy Gaming, Inc. and BMO Bank N.A.
• Amendment date: September 23, 2026 (Credit Agreement originally dated Jan 6, 2025; previously amended July 24, 2026).
• CapEx change: annual capital expenditure limitation increased up to no more than 10% of the prior year’s net revenue per annum.
• EBITDA addback: one-time addback of $505,361 for covenant compliance purposes only.

Why It Matters

• The amendment affects loan covenant calculations and the company’s permitted capital spending. The 10% capex allowance gives Galaxy Gaming more flexibility to invest in operations or growth relative to last year’s revenue.
• The $505,361 one-time EBITDA addback increases the EBITDA figure used to test certain financial ratios, which can help the company demonstrate compliance with lender covenants in the near term.
• Investors should note these are covenant- and calculation-specific changes (not new financing proceeds); review of the full amendment (Exhibit 10.1) is recommended to understand any other contractual impacts.