Golden Matrix Group, Inc. - GMGI STOCK NEWS

Golden Matrix Group Inc. reports Q2 revenues of $10.3 million, a 21% increase from the previous year. Q2 net loss of $(534,000) compared to a profit of $586,984 in the same quarter last year. The company has cash and cash equivalents of $15.7 million and total assets of $34.8 million as of April 30, 2023. B2B segment contributes $3.8 million (37%) and B2C segment contributes $6.5 million (63%) to Q2 revenues. The company remains confident in the success of RKings in Great Britain and plans to introduce its platform to additional markets.

Golden Matrix Group (NASDAQ:GMGI) is set to host a webcast for shareholders on April 25, 2023, at 4:00 PM EDT. CEO Brian Goodman will present a corporate overview, updates on the B2C segments, including RKings Competitions and MEXPLAY, and insights on the ongoing acquisition of MeridianBet Group. The event will feature a Q&A session, allowing participants to engage directly with Goodman. Interested investors can register for the webcast at this link. The webcast is powered by CEO Roadshow and will be available for replay afterward on the company's website under the HIGHLIGHTS section. Golden Matrix is a gaming technology company that operates globally, focusing on both B2B and B2C services.

Golden Matrix Group (NASDAQ:GMGI) has announced a webcast for shareholders, hosted by CEO Brian Goodman, on April 25, 2023, at 4:00 PM EDT. The session will cover a corporate overview and updates on GMGI’s B2C segments, including RKings Competitions and MEXPLAY. Additionally, Goodman will discuss the acquisition progress of MeridianBet Group. A Q&A session will allow participants to submit questions directly to Goodman.

Interested parties can register for the webcast at this link. The event will be available for replay approximately two hours after its conclusion under the INVESTORS tab on the company's website.

Golden Matrix Group (NASDAQ:GMGI) has announced a share repurchase program, authorizing up to $2.0 million to repurchase its common stock. The program, valid until September 29, 2023, aims to enhance shareholder value by mitigating market overhang and providing a tax-efficient capital return compared to cash dividends. Shares can be bought back on the open market or through negotiated transactions based on management's discretion and market conditions. Currently, there are 36,099,526 shares outstanding, with $15,423,897 in cash reserves. All repurchased shares will be retired.

Golden Matrix Group (GMGI) announced the acquisition of Meridianbet Group for approximately $300 million in cash and stock. Meridianbet has emerged as a top provider of sports betting options, offering extensive betting choices during NCAA March Madness in over 15 jurisdictions globally. The acquisition is anticipated to enhance GMGI's revenue and profitability, significantly expanding its global reach. The deal is expected to close in the first half of 2023, pending regulatory and shareholder approvals and necessary funding. Meridianbet operates in multiple markets, showcasing a successful business model and a strong operational presence.

Golden Matrix Group (NASDAQ:GMGI) reported Q1 2023 revenues of $10,777,679, a 21.4% increase year-over-year, but incurred a net loss of $443,521, compared to net income of $349,379 in Q1 2022. Adjusted EBITDA rose to $889,605, up from $729,266 in the same quarter last year. Despite a challenging economic backdrop, GMGI saw growth in its B2B and B2C segments, with 710 gaming operators and over 7.2 million registered users. The recent acquisition of RKingsCompetitions Ltd. has increased registered users to over 289,000. GMGI is also positioned for expansion through a pending $300 million acquisition of MeridianBet Group.

Golden Matrix Group (NASDAQ:GMGI) reported preliminary revenues exceeding $10.5 million for the first fiscal quarter ended January 31, 2023, marking a 19% increase from $8.88 million year-over-year and a 10% rise from the previous quarter's $9.57 million. CEO Brian Goodman highlighted strong performance in both its B2B and B2C segments, particularly the RKings platform, which awarded $4 million in prizes. RKings has grown its user base to 285,000 registered users. The company expects RKings to expand into new markets, starting with Mexico this year. Full financial results are anticipated in the upcoming 10-Q filing due by March 15, 2023.