Table game and side-bet system supplier Galaxy Gaming announced it has settled its legal issues with Bank of America over a disputed business loan.
In a filing with the Securities and Exchange Commission last week, Galaxy said the company and the bank “reached a full settlement of all claims.”
According to the filing, Bank of America “agreed to dismiss its legal action and (Galaxy) entered into a mutual release of all claims with (the bank).”
In a separate announcement, Galaxy said it is relocating its corporate office and showroom to a larger building south of McCarran International Airport.
In October, Bank of America filed a lawsuit in Clark County District Court charging that in 2007, false statements were made about the ownership of Galaxy Gaming LLC when the bank gave the company a business loan. Galaxy Gaming countersued, claiming allegations of abuse of process and slander of business.
The company’s new headquarters is almost four times the size of it former corporate offices.
“This is one of the most important days in the history of our company,” said Galaxy Gaming CEO Robert Saucier. “Nearly 10 years ago, we moved into our current 6,200-square-foot facility on O’Bannon. That building served us well as we grew our business approximately 500 percent. But now its
time for us to move into a new building better suited to facilitate further anticipated expansion. By taking this step, we are sending a clear message that we are not content with our past successes—we intend to grow vigorously and become a dominant player in the gaming industry.”
