Galaxy Gaming Appoints CFO

Galaxy Gaming has appointed Gary Vecchiarelli as chief financial officer, corporate secretary and treasurer. Headquartered in Las Vegas, Galaxy Gaming is a developer, manufacturer and distributor of casino table games.

PRESS RELEASE

Galaxy Gaming, Inc.
(OTCBB:GLXZ) announced today that Gary A. Vecchiarelli has been named
Chief Financial Officer, Corporate Secretary and Treasurer, effective
July 1, 2012.

“With over 12 years of accounting and finance experience working with
middle market companies, Gary understands our needs and brings a
balance of prior public accounting and audit experience combined with
practical corporate financial savvy,” stated Galaxy’s Chief Executive
Officer, Robert Saucier. “Gary’s impressive background and expertise
serves as the perfect complement to our leadership team. We look
forward to his contributions as our CFO.”

Mr. Vecchiarelli, 34, previously served as a Controller for Spectrum
Pharmaceuticals, an $800 million publicly traded company, a position he
held since July 2011. Prior to that he held positions with two national
accounting firms, including BDO USA, LLP, the world’s fifth largest
public accounting firm. At BDO, Mr. Vecchiarelli played a key role in
helping BDO open and establish the firm’s Las Vegas audit practice. Mr.
Vecchiarelli has had significant experience with complex accounting
issues including mergers & acquisitions, revenue recognition, SEC
financial reporting and Sarbanes Oxley compliance. During his career,
his clientele included gaming manufacturers Aruze Gaming America, Inc.
and FortuNet, Inc., in addition to Diamond Resorts International, one
of the world’s largest timeshare companies.

Mr. Vecchiarelli earned his Bachelor of Science degree in Accounting
from San Jose State University in 2001 and obtained his CPA license in
2006 from California. Mr. Vecchiarelli is a member of the American
Institute of Certified Public Accountants, Financial Executives
International and Institute of Management Accountants. He is currently
President of the Las Vegas Chapter of the Institute of Management
Accountants and has served on its Board of Directors since 2008.

“I was attracted by Galaxy Gaming’s innovation and strategy in bringing
cutting edge products to casinos and their players,” commented Mr.
Vecchiarelli. “It is exciting to be part of a team which offers a
diverse product portfolio and top notch service to its clients. I am
also impressed by the Company’s growth trajectory and look to play an
active role in Galaxy’s future,” added Mr. Vecchiarelli.

As part of an orderly transition, Mr. Vecchiarelli will immediately
assume financial responsibilities from Mr. Saucier, who has served as
Interim Chief Financial Officer since February. Accordingly, Mr.
Vecchiarelli will be designated principal financial officer and
principal accounting officer for Securities and Exchange Commission
reporting purposes. He will also serve as the Company’s Secretary and
Treasurer.

About Galaxy Gaming

Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the
world’s second largest developer, manufacturer and distributor of
casino table games including Lucky Ladies, Texas Shootout, Emperor’s
Challenge, Deuces Wild, 21+3, Three Card Poker and Bonus Craps. In
addition, it develops innovative and enhanced electronic wagering
platforms and systems such as its Bonus Jackpot System, its
Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table Gaming
System. Galaxy Gaming distributes its products to casinos worldwide.

CONTACT: Robert B. Saucier, CEO
(702) 939-3254