Welcome to our dedicated page for Golden Matrix news (Ticker: GMGI), a resource for investors and traders seeking the latest updates and insights on Golden Matrix stock.
Overview of Golden Matrix Group Inc.
Golden Matrix Group Inc. (NASDAQ: GMGI) is a seasoned gaming technology company renowned for developing and licensing online gaming IP and configurable, scalable white-label social gaming platforms. With strong roots in the Asia Pacific region and operational footprints in international markets including the UK and Latin America, the company has established itself as a significant player in both the B2B and B2C sectors. Key industry keywords such as "online gaming platforms", "gaming technology", and "iGaming innovation" are integral to its identity.
Core Business and Operations
Golden Matrix Group Inc. operates two primary segments: its B2B division focuses on creating proprietary gaming platforms that are tailored to meet the needs of an extensive client base, while its B2C division, which includes the regulated online sports betting and iGaming operations under the Meridianbet brand, drives a majority of the revenue. The company leverages a unique combination of sophisticated software, AI-enhanced tools, and scalable systems to deliver a versatile product range—from online gaming content to integrated sports betting solutions. Whether accessed through desktop or mobile applications, its platforms are designed with comprehensive tools that tackle marketing, user acquisition, retention, and monetization.
Technological Innovation and Product Offerings
The company’s expertise is rooted in its advanced, proprietary technology that powers multiple gaming experiences. With products that include configurable social gaming platforms and AI-powered decision tools such as the Bet Recommender, Golden Matrix provides its clients with cutting-edge solutions that enhance user engagement. The implementation of high-tech systems such as the Atlas platform underscores its commitment to continuous technological innovation and operational excellence.
Market Presence and Competitive Landscape
Golden Matrix Group is strategically positioned in a competitive global market. It operates in regulated jurisdictions across Asia Pacific, the UK, Latin America, and other international markets. Regardless of the regulatory environment, the company maintains robust compliance measures and operational discipline. Its diverse product portfolio, which spans online sports betting, gaming competitions, and eCommerce platforms for competitions, distinguishes it from competitors by offering a multifaceted approach to engaging both end users and business partners.
Regulatory Compliance and Security Standards
Operating in multiple jurisdictions demands strict adherence to local laws and regulations. Golden Matrix Group ensures that all its platforms and gaming content meet rigorous industry standards and regulatory compliance. Its systems are designed to automatically manage adherence to legal requirements, such as automatic declines for gaming requests from prohibited jurisdictions, thereby reinforcing the company’s commitment to responsible gaming practices.
Operational Excellence and Industry Recognition
Golden Matrix Group has built a reputation not only for its technological prowess but also for its operational discipline. By continuously upgrading its platforms and integrating strategic acquisitions—such as the full integration of Meridianbet—the company underscores its dedication to delivering high-quality gaming experiences. The balanced approach to both B2B and B2C operations further solidifies its position in an industry that thrives on constant innovation and adherence to quality standards.
Conclusion
This comprehensive overview demonstrates that Golden Matrix Group Inc. stands as a sophisticated, technology-driven enterprise within the gaming industry. It combines robust B2B solutions with consumer-facing platforms that cater to a diverse and expanding global market. The company’s integrated model, reliance on proprietary technology, and unwavering commitment to regulatory compliance ensure that it remains a well-recognized participant in the evolving landscape of online gaming and iGaming services.
Golden Matrix Group Inc. (GMGI) announced a registered direct offering to raise $3.5 million by selling 496,429 shares of common stock and corresponding warrants. The shares will be sold at $7.00 each, with warrants exercisable at $8.63 for three years. The offering, facilitated by EF Hutton, is set to close around October 27, 2021, subject to customary conditions. The initiative follows an effective shelf registration statement filed on October 5, 2021.
Golden Matrix Group (OTCQX: GMGI) announced its upgrade to the OTCQX Best Market, the highest tier of OTC Markets, effective September 22, 2021. This milestone reflects the company's adherence to stringent financial standards and corporate governance. CEO Brian Goodman emphasized that the upgrade will enhance their visibility to potential gaming operators and investors, anticipating future growth opportunities. Golden Matrix is a provider of online gaming platforms and content, with a focus on international markets.
OTC Markets Group Inc. announced that Golden Matrix Group, Inc. has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. This transition underscores Golden Matrix's compliance with high financial standards and corporate governance, enhancing visibility among U.S. investors. CEO Brian Goodman highlighted that this step is pivotal for the company's growth and aims to increase shareholder value. The trading under symbol GMGI commenced on September 22, 2021.
Golden Matrix Group (GMGI) reported record revenues of $3,251,182 in Q2 '22, marking a 211% increase from $1,045,425 in Q2 '21 and a 23% rise from Q1 '22 revenues of $2,639,402. The net income reached $481,189, up from $127,872 year-over-year. For the first half of fiscal '22, revenues totaled $5,890,584, a 231% increase compared to $1,780,189 in the same period last year. The company is expanding its seamless gaming platform aiming for global market penetration, particularly in Europe and the Americas.
Golden Matrix Group (OTC: GMGI) reported over $3 million in revenue for Q2 2021, marking a significant 200% increase from $1.05 million in Q2 2020. The company has initiated the rollout of its GMX-Ag platform, an innovative gaming system, in the Asia-Pacific region, with plans to onboard 14 additional operators. This platform allows seamless integration with various gaming products and is expected to enhance GMGI's global reach in fast-growing regulated markets.
Golden Matrix Group, Inc. (OTC PINK:GMGI) announced a strategic partnership with Playson Ltd, enhancing its online gaming offerings. The agreement will integrate Playson's popular games, including Buffalo Power: Hold and Win and Solar Queen, onto GMGI's GM-X platform, servicing over 400 operators and 3.5 million users in the APAC region. This integration aims to boost market share and revenue growth, particularly with the upcoming launch of GM-Ag, GMGI's aggregate platform expected to attract global gaming operators.
Golden Matrix Group (OTCPK: GMGI) has reported record revenues of $1 million for June 2021, marking its first month surpassing this milestone. Total revenues for May and June exceeded $2 million, reflecting approximately 100% growth compared to $1.05 million in the same period last year. The increase in revenue is attributed to licensing fees from gaming operators in the Asia Pacific region, with 488 operators and 4.6 million registered users. CEO Anthony Goodman expects sustained growth through organic efforts and acquisitions.
Golden Matrix Group Inc. (GMGI) has announced a distribution agreement with Fantasma Games AB to host its portfolio of casino betting games on GMGI's GM-X platform, enhancing its presence in the online gaming market. The GM-X platform currently serves over 400 operators and 3.5 million users in the Asia Pacific region. This partnership aims to boost GMGI's content offerings and expand into new markets with the upcoming GM-Ag platform. The integration of Fantasma’s games is expected shortly, marking a significant step in GMGI's growth strategy.
Golden Matrix Group (GMGI) reported record revenues of $2,639,402 for Q1 2022, up 259% year-over-year, marking its 11th consecutive quarter of profitability. Net income rose to $127,872 compared to $52,158 in Q4 2021. Adjusted EBITDA reached $663,311. As of April 30, 2021, cash and cash equivalents stood at $11,750,489, with total assets of $15,162,029, and current liabilities of $1,241,070. The acquisition of a seamless aggregation platform positions GMGI for entry into new markets and enhances its global footprint.
Golden Matrix Group (GMGI) reported a significant revenue increase of 59% for fiscal 2021, totaling $5,223,059 compared to $3,288,575 in the prior year. EBITDA stood at $2,366,344, slightly down from $2,476,361 year-over-year. Cash on hand improved by 531% to $11,706,349, and total assets rose 273% to $13,814,574. Total liabilities decreased by 55% to $552,610, further enhancing shareholders' equity by 436% to $13,261,937. The company aims to expand its global customer base and introduce new products in fiscal 2022.
FAQ
What is the current stock price of Golden Matrix (GMGI)?
What is the market cap of Golden Matrix (GMGI)?
What is the core business of Golden Matrix Group Inc.?
What technologies does Golden Matrix Group utilize?
How does Golden Matrix Group operate its business segments?
In which markets does Golden Matrix Group have a presence?
How does the company ensure regulatory compliance?
What sets Golden Matrix Group apart from competitors?
